TriCo Bancshares (NASDAQ:TCBK) Releases Earnings Results, Beats Estimates By $0.06 EPS

TriCo Bancshares (NASDAQ:TCBK) announced its quarterly earnings data on Thursday. The financial services provider reported $0.88 EPS 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 analyst estimates of $98.65 million. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%.

TriCo Bancshares Price Performance

TCBK stock opened at $42.22 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 12.87 and a beta of 0.54. The firm’s 50-day moving average price is $43.30 and its two-hundred day moving average price is $40.31. 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 12-month low of $30.21 and a 12-month high of $48.80.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 40.24%.

Insider Transactions at TriCo Bancshares

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

Analyst Upgrades and Downgrades

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