TriCo Bancshares (TCBK) to Issue Quarterly Dividend of $0.36 on June 26th

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Thursday, May 21st, NASDAQ Dividends reports. Shareholders of record on Friday, June 5th will be given a dividend of 0.36 per share by the financial services provider on Friday, June 26th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, June 5th.

TriCo Bancshares has increased its dividend by an average of 0.1%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 40.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TriCo Bancshares to earn $4.35 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 33.1%.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $50.67 on Wednesday. TriCo Bancshares has a 52 week low of $36.32 and a 52 week high of $53.18. The stock has a market capitalization of $1.62 billion, a PE ratio of 12.83 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s fifty day moving average is $49.52 and its 200-day moving average is $48.97.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The business had revenue of $111.21 million during the quarter. Equities research analysts expect that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Piper Sandler increased their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.60.

TriCo Bancshares Company Profile

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.