TriCo Bancshares (NASDAQ:TCBK) Posts Quarterly Earnings Results

TriCo Bancshares (NASDAQ:TCBK) issued its quarterly earnings data on Thursday. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.09, Zacks reports. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. The company had revenue of $116.71 million for the quarter, compared to analyst estimates of $114.63 million.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $54.39 on Friday. The company has a 50-day simple moving average of $53.25 and a 200-day simple moving average of $53.13. TriCo Bancshares has a one year low of $41.98 and a one year high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.04 and a beta of 0.66.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, September 11th. TriCo Bancshares’s dividend payout ratio is presently 34.53%.

TriCo Bancshares News Roundup

Here are the key news stories impacting TriCo Bancshares this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. TriCo reported diluted EPS of $1.18, up from $1.04 a year earlier, versus the Zacks consensus estimate of $1.08. Revenue was $116.7 million, ahead of the approximately $114.6 million analyst estimate. TriCo Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Core banking performance improved sequentially. Third-quarter net income reached $38.0 million, compared with $34.2 million in the prior quarter. Net interest income rose to $96.5 million from $93.6 million, while net interest margin expanded to 4.16% from 4.11%. Loans increased by $99.1 million and deposits rose by $74.6 million. TriCo Bancshares Posts $38.0 Million Third-Quarter Net Income
• Positive Sentiment: TriCo declared a quarterly cash dividend of $0.36 per share, payable November 27 to shareholders of record on November 16. The dividend supports the stock’s income appeal and signals continued capital returns. TriCo Declares Quarterly Cash Dividend
• Neutral Sentiment: Merger-related expenses tempered results. TriCo recorded $3.9 million in noninterest expense tied to its First Hawaiian transaction. While the cost weighs on near-term earnings, investors may view it as part of the company’s strategic expansion.
• Neutral Sentiment: Institutional positioning was mixed in the latest reported quarter, with 96 investors adding shares and 64 reducing positions. This is a secondary signal and is less likely to explain the immediate reaction than the earnings report.

Analysts Set New Price Targets

TCBK has been the subject of several research reports. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Piper Sandler dropped their price target on TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. DA Davidson reduced their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Finally, Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.30.

TriCo Bancshares Company Profile

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.