TriCo Bancshares (NASDAQ:TCBK) Releases Earnings Results

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06, Zacks reports. The firm had revenue of $133.84 million for the quarter, compared to analysts' expectations of $98.65 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%.

TriCo Bancshares Trading Down 4.0 %

Shares of TriCo Bancshares stock traded down $1.75 during trading hours on Friday, reaching $42.22. The stock had a trading volume of 71,586 shares, compared to its average volume of 116,780. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 12.87 and a beta of 0.54. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 1 year low of $30.21 and a 1 year high of $48.80. The firm has a 50 day simple moving average of $43.32 and a two-hundred day simple moving average of $40.26.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares's payout ratio is currently 40.24%.

Insider Buying and Selling at TriCo Bancshares

In related news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $135,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares of the company's stock, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the sale, the director now owns 3,000 shares of the company's stock, valued at approximately $135,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TCBK has been the subject of several analyst reports. Piper Sandler raised their price target on shares of TriCo Bancshares from $47.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. DA Davidson upped their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Janney Montgomery Scott reissued a "neutral" rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Stephens raised their price objective on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.80.

About TriCo Bancshares

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.