TriCo Bancshares (TCBK) Projected to Post Quarterly Earnings on Thursday

TriCo Bancshares (NASDAQ:TCBK) is projected to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.79 per share and revenue of $99,020.00 billion for the quarter.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, analysts expect TriCo Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TriCo Bancshares Stock Performance

TCBK opened at $43.35 on Wednesday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.90 and a beta of 0.58. The company has a fifty day moving average of $45.71 and a 200 day moving average of $44.35. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, December 6th. This represents a $1.32 annualized dividend and a yield of 3.04%. TriCo Bancshares’s payout ratio is 39.29%.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.64% of the company’s stock.

Analyst Ratings Changes

TCBK has been the subject of several research analyst reports. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Piper Sandler dropped their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Stephens dropped their price objective on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.20.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.