TriCo Bancshares (NASDAQ:TCBK) Releases Earnings Results

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) released its quarterly earnings data on Thursday. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09, Zacks reports. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%.

TriCo Bancshares Stock Up 2.5 %

Shares of TriCo Bancshares stock traded up $1.08 during trading on Thursday, reaching $44.04. The company's stock had a trading volume of 153,419 shares, compared to its average volume of 102,354. The company has a 50-day simple moving average of $45.61 and a two-hundred day simple moving average of $44.34. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 13.11 and a beta of 0.58.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. TriCo Bancshares's payout ratio is 39.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TCBK shares. DA Davidson downgraded TriCo Bancshares from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, Piper Sandler dropped their target price on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, TriCo Bancshares presently has a consensus rating of "Hold" and a consensus price target of $48.20.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares of the company's stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.64% of the stock is currently owned by insiders.

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.