TriCo Bancshares (TCBK) to Issue Quarterly Dividend of $0.36 on March 20th

by · The Markets Daily

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Friday, March 6th will be paid a dividend of 0.36 per share by the financial services provider on Friday, March 20th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, March 6th.

TriCo Bancshares has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. TriCo Bancshares has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TriCo Bancshares to earn $3.67 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 39.2%.

TriCo Bancshares Trading Down 0.1%

Shares of NASDAQ:TCBK opened at $48.30 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day moving average is $49.44 and its 200-day moving average is $46.87. The company has a market cap of $1.57 billion, a P/E ratio of 13.02 and a beta of 0.63. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $53.18.

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to analyst estimates of $108.19 million. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%. Equities research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

Hedge Funds Weigh In On TriCo Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of TriCo Bancshares by 28.9% during the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TriCo Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after buying an additional 820 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of TriCo Bancshares by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after buying an additional 27,193 shares during the period. Empowered Funds LLC raised its position in shares of TriCo Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of TriCo Bancshares by 280.1% during the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock valued at $1,977,000 after acquiring an additional 36,443 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

(Get Free Report)

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.

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