TriCo Bancshares (TCBK) To Go Ex-Dividend on March 6th

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Thursday, February 19th. Investors 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) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, March 6th.

TriCo Bancshares has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 12 years. TriCo Bancshares has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. 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 Up 0.8%

TriCo Bancshares stock traded up $0.37 during midday trading on Wednesday, reaching $48.67. The stock had a trading volume of 2,779 shares, compared to its average volume of 143,619. The stock’s 50-day simple moving average is $49.44 and its 200 day simple moving average is $46.87. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $53.18. 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 has a market capitalization of $1.58 billion, a PE ratio of 13.12 and a beta of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate 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%. Analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TCBK. Mercer Global Advisors Inc. ADV increased its position in shares of TriCo Bancshares by 3.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 162,047 shares of the financial services provider’s stock worth $7,676,000 after purchasing an additional 5,055 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in TriCo Bancshares in the fourth quarter worth about $164,000. Man Group plc acquired a new position in TriCo Bancshares in the fourth quarter valued at approximately $294,000. Engineers Gate Manager LP bought a new position in shares of TriCo Bancshares during the fourth quarter valued at approximately $336,000. Finally, AQR Capital Management LLC grew its holdings in shares of TriCo Bancshares by 24.1% during the fourth quarter. AQR Capital Management LLC now owns 127,820 shares of the financial services provider’s stock valued at $6,055,000 after purchasing an additional 24,794 shares during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

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.