TriCo Bancshares Plans Quarterly Dividend of $0.36 (NASDAQ:TCBK)

TriCo Bancshares (NASDAQ:TCBK) announced a quarterly dividend on Thursday, August 20th. Shareholders of record on Friday, September 11th will be given a dividend of 0.36 per share by the financial services provider on Friday, September 25th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, September 11th.

TriCo Bancshares has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. TriCo Bancshares has a dividend payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TriCo Bancshares to earn $4.37 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 33.0%.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $53.97 on Wednesday. The firm’s 50-day moving average is $56.44 and its 200-day moving average is $52.09. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 12.94 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a 52-week low of $40.44 and a 52-week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The business had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. Equities research analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in TriCo Bancshares in the 2nd quarter valued at $26,000. Larson Financial Group LLC raised its stake in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 459 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in TriCo Bancshares during the second quarter worth $36,000. Abound Financial LLC acquired a new position in TriCo Bancshares during the fourth quarter worth $43,000. Finally, Parallel Advisors LLC lifted its holdings in shares of TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 676 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

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.