TriCo Bancshares (NASDAQ:TCBK) Announces Quarterly Earnings Results

TriCo Bancshares (NASDAQ:TCBK) released its earnings results on Thursday. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02, Zacks reports. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $50.61 on Thursday. The firm has a market capitalization of $1.65 billion, a PE ratio of 14.22 and a beta of 0.63. TriCo Bancshares has a 52 week low of $35.20 and a 52 week high of $50.85. The firm’s 50-day simple moving average is $48.16 and its 200 day simple moving average is $45.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s payout ratio is 40.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TCBK shares. Keefe, Bruyette & Woods raised their price objective on shares of TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.60.

Institutional Trading of TriCo Bancshares

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of TriCo Bancshares by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,683,048 shares of the financial services provider’s stock worth $74,744,000 after purchasing an additional 14,748 shares in the last quarter. Goldman Sachs Group Inc. increased its position in TriCo Bancshares by 4.4% during the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after buying an additional 27,193 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of TriCo Bancshares by 20.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 289,483 shares of the financial services provider’s stock worth $12,856,000 after acquiring an additional 49,663 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of TriCo Bancshares in the third quarter valued at $6,972,000. Finally, Millennium Management LLC lifted its position in shares of TriCo Bancshares by 292.7% in the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after acquiring an additional 100,858 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.