TriCo Bancshares (NASDAQ:TCBK) Announces Quarterly Earnings Results

TriCo Bancshares (NASDAQ:TCBK) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.10, FiscalAI reports. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The firm had revenue of $116.71 million for the quarter, compared to analyst estimates of $114.63 million.

TriCo Bancshares Price Performance

Shares of TCBK stock traded up $1.00 during trading hours on Thursday, reaching $53.79. 35,519 shares of the company were exchanged, compared to its average volume of 219,285. TriCo Bancshares has a fifty-two week low of $41.98 and a fifty-two week high of $61.71. The stock’s fifty day moving average is $53.33 and its two-hundred day moving average is $53.08. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 12.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, September 11th. TriCo Bancshares’s dividend payout ratio is presently 34.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Raymond James Financial lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Stephens raised shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Finally, DA Davidson cut their price target on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.30.

TriCo Bancshares Company Profile

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.