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

TriCo Bancshares (NASDAQ:TCBK) announced 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 3.11%. The ex-dividend date of this dividend is Friday, March 7th.

TriCo Bancshares has raised its dividend payment by an average of 9.7% per year over the last three years and has raised its dividend every year for the last 12 years. TriCo Bancshares has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of TCBK opened at $42.45 on Wednesday. The stock has a 50-day simple moving average of $43.64 and a 200-day simple moving average of $44.48. 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 has a 1 year low of $31.73 and a 1 year high of $51.06. The stock has a market capitalization of $1.40 billion, a PE ratio of 12.27 and a beta of 0.57.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, TriCo Bancshares has a consensus rating of “Hold” and a consensus target price of $50.75.

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction that occurred on 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 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.64% of the company’s stock.

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.