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

Key Points

• TriCo Bancshares declared a quarterly dividend of $0.36 per share, payable September 25 to shareholders of record September 11. The dividend implies an annualized payout of $1.44 and a 2.7% yield.
• The company has raised its dividend for 12 consecutive years, with a current payout ratio of 40.1%. Analysts expect a 33.0% payout ratio next year, indicating continued earnings coverage.
• TriCo Bancshares exceeded quarterly earnings expectations, reporting $1.06 in EPS versus the $1.03 consensus, while revenue reached $111.88 million compared with estimates of $110.99 million.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) declared a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 11th will be paid 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 of this dividend is Friday, September 11th.

TriCo Bancshares has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 12 consecutive years. TriCo Bancshares has a dividend payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. 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

TCBK stock opened at $53.97 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.94 and a beta of 0.59. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71. The firm has a 50 day moving average of $56.44 and a two-hundred day moving average of $52.09.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The business had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. As a group, equities analysts anticipate that TriCo Bancshares will post 4.28 EPS for the current fiscal year.

TriCo Bancshares Company Profile

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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