TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Wednesday, November 28th, NASDAQ reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.19 per share by the financial services provider on Friday, December 28th. This represents a $0.76 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 13th. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.17.
TriCo Bancshares has raised its dividend by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. TriCo Bancshares has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriCo Bancshares to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 25.6%.
Shares of TCBK traded up $0.06 during trading hours on Friday, hitting $36.42. The company’s stock had a trading volume of 121,098 shares, compared to its average volume of 70,808. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.04 and a beta of 0.78. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.42. TriCo Bancshares has a 52-week low of $33.35 and a 52-week high of $42.13.
TCBK has been the subject of several recent analyst reports. BidaskClub raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, September 8th. ValuEngine raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $43.60.
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About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.
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