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

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.33 per share by the financial services provider on Friday, December 20th. This represents a $1.32 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, December 6th.

TriCo Bancshares has increased its dividend by an average of 10.9% 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 39.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriCo Bancshares to earn $3.32 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 39.8%.

TriCo Bancshares Trading Up 1.9 %

NASDAQ TCBK traded up $0.91 on Wednesday, hitting $49.47. 4,508 shares of the stock were exchanged, compared to its average volume of 116,530. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.45 and a beta of 0.54. The company’s 50-day moving average price is $44.51 and its two-hundred day moving average price is $42.21.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. Research analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Stephens lowered their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler lowered their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.20.

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.