TriCo Bancshares (NASDAQ:TCBK) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

TriCo Bancshares (NASDAQ:TCBK) announced its quarterly earnings results on Monday. The financial services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.01), MarketWatch Earnings reports. TriCo Bancshares had a return on equity of 11.06% and a net margin of 30.95%.

TCBK stock opened at $43.49 on Thursday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 12.57 and a beta of 0.71. The firm has a 50-day simple moving average of $41.27 and a two-hundred day simple moving average of $43.42. TriCo Bancshares has a one year low of $27.81 and a one year high of $51.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.79 and a current ratio of 0.79.

The company also recently declared a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, September 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Thursday, September 9th. TriCo Bancshares’s payout ratio is 46.30%.

Several equities research analysts recently weighed in on the stock. Raymond James boosted their price target on shares of TriCo Bancshares from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson upgraded shares of TriCo Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, September 7th. Piper Sandler upgraded shares of TriCo Bancshares from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research report on Monday, August 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, October 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from, the company presently has an average rating of “Buy” and an average price target of $48.25.

A hedge fund recently raised its stake in TriCo Bancshares stock. Morgan Stanley raised its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 534.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,436 shares of the financial services provider’s stock after buying an additional 67,761 shares during the quarter. Morgan Stanley owned about 0.27% of TriCo Bancshares worth $3,423,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 65.19% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.

Further Reading: Capital Gains

Earnings History for TriCo Bancshares (NASDAQ:TCBK)

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