TriCo Bancshares (TCBK) Declares Dividend Increase – $0.19 Per Share
TriCo Bancshares (NASDAQ:TCBK) announced 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 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 13th. This is a boost 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 stock traded up $0.06 during trading hours on Friday, reaching $36.42. The company had a trading volume of 121,098 shares, compared to its average volume of 70,808. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.11 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.04 and a beta of 0.78. TriCo Bancshares has a 12-month low of $33.35 and a 12-month high of $42.13.
A number of equities research analysts have recently issued reports on TCBK shares. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. ValuEngine upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. TriCo Bancshares presently has a consensus rating of “Buy” and an average price target of $43.60.
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TriCo Bancshares Company Profile
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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