TriCo Bancshares (NASDAQ:TCBK) to Issue $0.33 Quarterly Dividend

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.33 per share by the financial services provider on Friday, March 21st. This represents a $1.32 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, March 7th.

TriCo Bancshares has increased its dividend payment by an average of 9.7% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. TriCo Bancshares has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TriCo Bancshares to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 36.0%.

TriCo Bancshares Stock Down 0.3 %

NASDAQ:TCBK traded down $0.12 on Thursday, hitting $43.24. The stock had a trading volume of 22,370 shares, compared to its average volume of 96,237. The business's fifty day moving average is $43.73 and its 200 day moving average is $44.43. The company has a market cap of $1.43 billion, a PE ratio of 12.53 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, equities research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

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Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 6,128 shares in the company, valued at $303,152.16. The trade was a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TCBK. DA Davidson downgraded TriCo Bancshares from a "buy" rating to a "neutral" rating and increased their price target for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods reduced their price objective on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $50.75.

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.