TriCo Bancshares (NASDAQ:TCBK) Announces Earnings Results

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

TriCo Bancshares Price Performance

TCBK traded up $0.90 during midday trading on Thursday, reaching $53.69. 29,913 shares of the company’s stock were exchanged, compared to its average volume of 219,265. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 12.88 and a beta of 0.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a one year low of $41.98 and a one year high of $61.71. The business has a 50-day simple moving average of $53.33 and a two-hundred day simple moving average of $53.08.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued 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 of this dividend was Friday, September 11th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 34.53%.

Analysts Set New Price Targets

TCBK has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Friday, October 2nd. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler lowered their price target on TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating on the stock in a report on Thursday, October 1st. 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. Finally, DA Davidson dropped their price target on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.30.

About TriCo Bancshares

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.