TriCo Bancshares (NASDAQ:TCBK) Plans $0.36 Quarterly Dividend

TriCo Bancshares (NASDAQ:TCBK) announced a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 11th will be given a dividend of 0.36 per share by the financial services provider on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th.

TriCo Bancshares has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. TriCo Bancshares has a payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TriCo Bancshares to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 33.0%.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $53.97 on Wednesday. The company has a market capitalization of $1.73 billion, a PE ratio of 12.94 and a beta of 0.59. 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 has a one year low of $40.44 and a one year high of $61.71. The company’s fifty day moving average price is $56.44 and its 200 day moving average price is $52.09.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The company had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. As a group, analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TCBK. Hsbc Holdings PLC acquired a new position in shares of TriCo Bancshares during the fourth quarter worth approximately $815,000. GSA Capital Partners LLP acquired a new stake in shares of TriCo Bancshares in the second quarter valued at approximately $1,100,000. Heartland Advisors Inc. bought a new position in TriCo Bancshares in the 2nd quarter worth approximately $13,462,000. Basswood Capital Management L.L.C. acquired a new position in TriCo Bancshares during the 2nd quarter worth $7,430,000. Finally, Bank of New York Mellon Corp bought a new position in TriCo Bancshares in the 2nd quarter valued at $8,378,000. Institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.