TriCo Bancshares (TCBK) to Issue Quarterly Dividend of $0.19 on December 28th

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.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $72.68 million during the quarter, compared to the consensus estimate of $72.54 million. TriCo Bancshares had a net margin of 18.77% and a return on equity of 9.80%. On average, sell-side analysts expect that TriCo Bancshares will post 2.54 earnings per share for the current fiscal year.

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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Dividend History for TriCo Bancshares (NASDAQ:TCBK)

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