Recent Insider Transactions Derivative • 3h
Chairman exercised options and sold US$456k worth of stock On the 25th of June, Richard Smith exercised options to acquire 9k shares at no cost and sold these for an average price of US$53.55 per share. This trade did not impact their existing holding. For the year to December 2019, Richard's total compensation was 35% salary and 65% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Richard currently holds 324.99k shares (0.01018451868172917 of the company). Company insiders have collectively sold US$2.8m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • May 29
First quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 5th June 2026 Payment date: 26th June 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.1% over the next year, which should provide support to the dividend and adequate earnings cover. Live News • May 11
TriCo Bancshares Q1 Net Income Rises to $33.7 Million With Strong Shareholder Returns TriCo Bancshares reported Q1 2026 net income of $33.7 million, compared with $26.4 million a year earlier.
The quarter’s performance was supported by higher net interest income tied to increased loan balances and lower deposit rates, along with higher fee income from deposit services and asset management.
The company reported an allowance for credit losses of $127.9 million and returned capital to shareholders through $11.5 million in cash dividends and $21.6 million in share repurchases under its 2025 program.
The combination of higher net interest income, growth in fee-based revenue and a larger credit loss allowance indicates a focus on both earnings and balance sheet protection while continuing to return cash to shareholders.
Investors may want to watch how loan growth, deposit costs and any changes in credit quality trend relative to this expanded allowance and the ongoing dividend and buyback activity. Reported Earnings • Apr 24
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$1.05 (up from US$0.80 in 1Q 2025). Revenue: US$104.9m (up 11% from 1Q 2025). Net income: US$33.7m (up 28% from 1Q 2025). Profit margin: 32% (up from 28% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.2%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Mar 04
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$3.72 (up from US$3.47 in FY 2024). Revenue: US$405.8m (up 4.3% from FY 2024). Net income: US$121.6m (up 5.8% from FY 2024). Profit margin: 30% (in line with FY 2024). Non-performing loans: 0.90% (up from 0.65% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Announcement • Mar 03
TriCo Bancshares, Annual General Meeting, May 21, 2026 TriCo Bancshares, Annual General Meeting, May 21, 2026. Declared Dividend • Feb 26
Fourth quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 6th March 2026 Payment date: 20th March 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (37% payout ratio) and is expected to be well covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 24
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on March 20, 2026 The Board of Directors of TriCo Bancshares, parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.36 (thirty-six cents) per share on its common stock, no par value, on February 19, 2026. The dividend is payable on March 20, 2026, to holders of record as of March 6, 2026, and represents the 146th consecutive quarterly cash dividend paid to shareholders. Price Target Changed • Jan 27
Price target increased by 7.8% to US$55.17 Up from US$51.17, the current price target is an average from 6 analysts. New target price is 12% above last closing price of US$49.06. Stock is up 11% over the past year. The company is forecast to post earnings per share of US$4.03 for next year compared to US$3.72 last year. Price Target Changed • Jan 23
Price target increased by 8.1% to US$53.33 Up from US$49.33, the current price target is an average from 6 analysts. New target price is 6.7% above last closing price of US$49.98. Stock is up 14% over the past year. The company is forecast to post earnings per share of US$4.06 for next year compared to US$3.72 last year. Reported Earnings • Jan 22
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$3.72 (up from US$3.47 in FY 2024). Revenue: US$407.1m (up 4.6% from FY 2024). Net income: US$121.6m (up 5.8% from FY 2024). Profit margin: 30% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Dec 06
TriCo Bancshares Announces Retirement of John S. Fleshood as Executive Vice President & Chief Operating Officer, Effective December 2, 2025 TriCo Bancshares announced that John S. Fleshood, former Executive Vice President & Chief Operating Officer, retired from his position at TriCo Bancshares, effective December 2, 2025. Mr. Fleshood's decision to retire was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Declared Dividend • Nov 28
Third quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 5th December 2025 Payment date: 19th December 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 26
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on December 19, 2025 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.36 (thirty-six cents) per share on its common stock, no par value, on November 20, 2025, representing the 145th consecutive quarterly cash dividend paid to shareholders. The dividend is payable on December 19, 2025, to holders of record on December 5, 2025. Reported Earnings • Oct 26
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: US$1.05 (up from US$0.88 in 3Q 2024). Revenue: US$106.9m (up 8.1% from 3Q 2024). Net income: US$34.0m (up 17% from 3Q 2024). Profit margin: 32% (up from 29% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year. Announcement • Oct 23
TriCo Bancshares Reports Net Charge-Off for the Third Quarter Ended September 30, 2025 TriCo Bancshares reported net charge-off for the third quarter ended September 30, 2025. For the quarter, the company's loans charged-off was $737,000 against $444,000 reported a year ago. Declared Dividend • Aug 28
Second quarter dividend increased to US$0.36 Dividend of US$0.36 is 9.1% higher than last year. Ex-date: 5th September 2025 Payment date: 19th September 2025 Dividend yield will be 3.0%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (39% payout ratio) and is expected to be well covered in 3 years' time (36% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 26
TriCo Bancshares Increases Quarterly Cash Dividend, Payable on September 19, 2025 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.36 (thirty-six cents) per share on its common stock, no par value, on August 21, 2025, representing an increase of $0.03 or 9.1% from the prior quarter and the 144th consecutive quarterly cash dividend paid to shareholders. Over the past fifteen years, the Company has increased its quarterly cash dividend on ten occasions representing a cumulative change from $0.09 to $0.36, a multiple of four times. This dividend increase reflects management's confidence in the Company's outlook for growth in earning assets and earnings per share. The dividend is payable on September 19, 2025, to holders of record on September 5, 2025. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.84 (down from US$0.88 in 2Q 2024). Revenue: US$98.9m (up 1.5% from 2Q 2024). Net income: US$27.5m (down 5.1% from 2Q 2024). Profit margin: 28% (down from 30% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 4% per year. Declared Dividend • May 29
First quarter dividend of US$0.33 announced Dividend of US$0.33 is the same as last year. Ex-date: 6th June 2025 Payment date: 20th June 2025 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 2.7% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 28
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on June 20, 2025 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value on May 22, 2025. The dividend is payable on June 20, 2025, to holders of record on June 6, 2025. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: US$0.80 (down from US$0.83 in 1Q 2024). Revenue: US$94.8m (flat on 1Q 2024). Net income: US$26.4m (down 5.0% from 1Q 2024). Profit margin: 28% (down from 30% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • Apr 25
TriCo Bancshares Reports Loans Charged-Off for the First Quarter Ended March 31, 2025 TriCo Bancshares reported loans charged-off for the first quarter ended March 31, 2025. For the quarter, the company's loans charged-off was $374,000 against $1,275,000 a year ago. Announcement • Apr 19
TriCo Bancshares, Annual General Meeting, May 22, 2025 TriCo Bancshares, Annual General Meeting, May 22, 2025. Location: 63 constitution drive, ca 95973, chico United States Reported Earnings • Mar 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.47 (down from US$3.53 in FY 2023). Revenue: US$389.2m (down 1.2% from FY 2023). Net income: US$114.9m (down 2.1% from FY 2023). Profit margin: 30% (in line with FY 2023). Net interest margin (NIM): 3.71% (down from 3.96% in FY 2023). Cost-to-income ratio: 59.1% (up from 55.8% in FY 2023). Non-performing loans: 0.65% (up from 0.47% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Announcement • Mar 01
TriCo Bancshares and Tri Counties Bank Announces the Retirement of John S. Fleshood as Executive Vice President & Chief Operating Officer On February 25, 2025, John S. Fleshood, Executive Vice President & Chief Operating Officer of TriCo Bancshares and Tri Counties Bank (collectively, the Company”), notified the Company of his intention to voluntarily retire from the position of Executive Vice President & Chief Operating Officer in December 2025. Mr. Fleshood’s decision to retire was not the result of any disagreement relating to the Company’s financial condition, financial reporting practices or any disagreement with the Company. The Company is working with Mr. Fleshood in developing a plan to transition his role and responsibilities. Declared Dividend • Feb 26
Fourth quarter dividend of US$0.33 announced Dividend of US$0.33 is the same as last year. Ex-date: 7th March 2025 Payment date: 21st March 2025 Dividend yield will be 3.0%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (37% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 22
TriCo Bancshares Declares Quarterly Cash Dividend, Payable on March 21, 2025 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value, on February 20, 2025. The dividend is payable on March 21, 2025 to holders of record on March 7, 2025. Reported Earnings • Jan 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.47 (down from US$3.53 in FY 2023). Revenue: US$389.2m (down 1.2% from FY 2023). Net income: US$114.9m (down 2.1% from FY 2023). Profit margin: 30% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Board Change • Jan 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Anthony Leggio was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 13
Lead Independent Director recently sold US$252k worth of stock On the 11th of December, Cory Giese sold around 5k shares on-market at roughly US$49.47 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$515k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Dec 12
Lead Independent Director notifies of intention to sell stock Cory Giese intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of December. If the sale is conducted around the recent share price of US$48.54, it would amount to US$252k. Since March 2024, Cory's direct individual holding has decreased from 57.26k shares to 55.47k. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Nov 29
Third quarter dividend of US$0.33 announced Shareholders will receive a dividend of US$0.33. Ex-date: 6th December 2024 Payment date: 20th December 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (37% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 7.2% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 26
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on December 20, 2024 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value on November 21, 2024. The dividend is payable on December 20, 2024, to holders of record on December 6, 2024. Announcement • Oct 26
TriCo Bancshares Reports Loans Charged-Off for the Third Quarter Ended September 30, 2024 TriCo Bancshares reported Loans charged-off for the third quarter ended September 30, 2024. For the period, the company reported loans charged-off was $444,000 against $5,357,000 a year ago. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.88 (down from US$0.92 in 3Q 2023). Revenue: US$98.9m (down 1.1% from 3Q 2023). Net income: US$29.1m (down 5.0% from 3Q 2023). Profit margin: 29% (down from 31% in 3Q 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 8.9%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Recent Insider Transactions Derivative • Oct 02
Independent Director exercised options to buy US$305k worth of stock. On the 26th of September, Martin Mariani exercised options to buy 8k shares at a strike price of around US$23.21, costing a total of US$174k. This transaction amounted to 13% of their direct individual holding at the time of the trade. Since March 2024, Martin's direct individual holding has increased from 54.55k shares to 64.22k. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Sep 29
Independent Director exercised options to buy US$316k worth of stock. On the 26th of September, Martin Mariani exercised options to buy 8k shares at a strike price of around US$23.21, costing a total of US$174k. This transaction amounted to 13% of their direct individual holding at the time of the trade. Since March 2024, Martin's direct individual holding has increased from 54.55k shares to 56.72k. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Aug 26
Second quarter dividend of US$0.33 announced Shareholders will receive a dividend of US$0.33. Ex-date: 6th September 2024 Payment date: 20th September 2024 Dividend yield will be 2.9%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Aug 23
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on September 20, 2024 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.33 (33 cents) per share on its common stock, no par value on August 22, 2024. The dividend is payable on September 20, 2024, to holders of record on September 6, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: US$0.88 (up from US$0.75 in 2Q 2023). Revenue: US$97.5m (up 2.9% from 2Q 2023). Net income: US$29.0m (up 17% from 2Q 2023). Profit margin: 30% (up from 26% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Jul 26
Price target increased by 11% to US$46.17 Up from US$41.67, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of US$47.62. Stock is up 27% over the past year. The company is forecast to post earnings per share of US$3.25 for next year compared to US$3.53 last year. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$45.62, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$69.06 per share. Declared Dividend • May 30
First quarter dividend of US$0.33 announced Shareholders will receive a dividend of US$0.33. Ex-date: 7th June 2024 Payment date: 21st June 2024 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 2.2% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: US$0.83 (down from US$1.08 in 1Q 2023). Revenue: US$94.2m (down 8.3% from 1Q 2023). Net income: US$27.7m (down 23% from 1Q 2023). Profit margin: 30% (down from 35% in 1Q 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 4.4%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Apr 12
Chairman exercised options and sold US$178k worth of stock On the 9th of April, Richard Smith exercised options to acquire 5k shares at no cost and sold these for an average price of US$34.49 per share. This trade did not impact their existing holding. For the year to December 2017, Richard's total compensation was 29% salary and 71% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Richard's direct individual holding has increased from 294.13k shares to 295.52k. Company insiders have collectively sold US$1.8m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 04
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$3.53 (down from US$3.85 in FY 2022). Revenue: US$394.1m (flat on FY 2022). Net income: US$117.4m (down 6.4% from FY 2022). Profit margin: 30% (down from 32% in FY 2022). Net interest margin (NIM): 3.96% (up from 3.88% in FY 2022). Cost-to-income ratio: 55.8% (up from 53.0% in FY 2022). Non-performing loans: 0.47% (up from 0.33% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 01
Fourth quarter dividend increased to US$0.33 Dividend of US$0.33 is 10% higher than last year. Ex-date: 7th March 2024 Payment date: 22nd March 2024 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (37% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 4.2% over the next 2 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. Announcement • Feb 27
TriCo Bancshares Announces Increase in Quarterly Cash Dividend, Payable on March 22, 2024 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value on February 22, 2024. The dividend is payable on March 22, 2024, to holders of record on March 8, 2024. Reported Earnings • Jan 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$3.53 (down from US$3.85 in FY 2022). Revenue: US$394.1m (flat on FY 2022). Net income: US$117.4m (down 6.4% from FY 2022). Profit margin: 30% (down from 32% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Dec 28
Price target increased by 12% to US$43.67 Up from US$39.00, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of US$44.02. Stock is down 14% over the past year. The company is forecast to post earnings per share of US$3.57 for next year compared to US$3.85 last year. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.30 per share at 3.4% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (5.0%). In line with average of industry peers (3.6%). Announcement • Nov 21
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on December 22, 2023 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.30 per share on its common stock, no par value on November 16, 2023. The dividend is payable on December 22, 2023 to holders of record on December 8, 2023. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: US$0.92 (down from US$1.12 in 3Q 2022). Revenue: US$99.9m (down 5.7% from 3Q 2022). Net income: US$30.6m (down 18% from 3Q 2022). Profit margin: 31% (down from 35% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 29
TriCo Bancshares Declares A Quarterly Cash Dividend, Payable on September 22, 2023 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.30 per share on its common stock, no par value on August 24, 2023. The dividend is payable on September 22, 2023 to holders of record on September 8, 2023. Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: US$0.75 (down from US$0.94 in 2Q 2022). Revenue: US$94.7m (down 4.7% from 2Q 2022). Net income: US$24.9m (down 21% from 2Q 2022). Profit margin: 26% (down from 32% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to stay flat during the next 2 years compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Jun 17
Chairman exercised options and sold US$341k worth of stock On the 12th of June, Richard Smith exercised options to acquire 9k shares at no cost and sold these for an average price of US$37.21 per share. This trade did not impact their existing holding. For the year to December 2016, Richard's total compensation was 29% salary and 71% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Richard's direct individual holding has decreased from 1.33m shares to 286.46k. Company insiders have collectively sold US$3.0m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$39.13, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$66.63 per share. Recent Insider Transactions • Jun 05
Key Executive recently bought US$165k worth of stock On the 31st of May, Michael Koehnen bought around 5k shares on-market at roughly US$33.00 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.30 per share at 3.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (5.2%). In line with average of industry peers (3.7%). Announcement • May 25
TriCo Bancshares, Annual General Meeting, May 16, 2024 TriCo Bancshares, Annual General Meeting, May 16, 2024. Announcement • May 23
Trico Bancshares Declares Quarterly Cash Dividend, Payable on June 23, 2023 The Board of Directors of TriCo Bancshares, parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.30 (thirty cents) per share on its common stock, no par value on May 18, 2023. The dividend is payable on June 23, 2023 to holders of record on June 9, 2023. This is the 122nd consecutive quarterly cash dividend, and is reflective of the Company's strength, stability and commitment to shareholder value. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$29.26, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 16% over the past three years. Price Target Changed • Apr 30
Price target decreased by 8.8% to US$48.33 Down from US$53.00, the current price target is an average from 6 analysts. New target price is 35% above last closing price of US$35.81. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of US$4.08 for next year compared to US$3.85 last year. Reported Earnings • Apr 29
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: US$1.08 (up from US$0.68 in 1Q 2022). Revenue: US$102.8m (up 36% from 1Q 2022). Net income: US$35.8m (up 76% from 1Q 2022). Profit margin: 35% (up from 27% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 10
Price target decreased by 8.4% to US$54.33 Down from US$59.33, the current price target is an average from 6 analysts. New target price is 34% above last closing price of US$40.55. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of US$4.49 for next year compared to US$3.85 last year. Recent Insider Transactions Derivative • Mar 26
Independent Director exercised options to buy US$172k worth of stock. On the 23rd of March, John S. Hasbrook exercised options to buy 4k shares at a strike price of around US$19.46, costing a total of US$78k. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. Since June 2022, John S. has owned 54.42k shares directly. Company insiders have collectively sold US$1.7m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$42.45, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 76% over the past three years. Reported Earnings • Mar 07
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$3.85. Revenue: US$391.3m (up 14% from FY 2021). Net income: US$125.4m (up 6.6% from FY 2021). Profit margin: 32% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Recent Insider Transactions Derivative • Mar 03
Chairman exercised options and sold US$220k worth of stock On the 24th of February, Richard Smith exercised options to acquire 4k shares at no cost and sold these for an average price of US$50.14 per share. This trade did not impact their existing holding. Since June 2022, Richard's direct individual holding has increased from 1.33m shares to 1.40m. Company insiders have collectively sold US$1.8m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jan 26
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$3.85. Revenue: US$390.6m (up 14% from FY 2021). Net income: US$125.4m (up 6.6% from FY 2021). Profit margin: 32% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Banks industry in the US. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (3.0%). Announcement • Nov 22
TriCo Bancshares Announces Quarterly Cash Dividend, Payable on December 23, 2022 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.30 (thirty cents) per share on its common stock, no par value on November 17, 2022. The dividend is payable on December 23, 2022 to holders of record on December 9, 2022. Board Change • Nov 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Anthony Leggio was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 31
Price target increased to US$58.67 Up from US$54.50, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of US$57.90. Stock is up 27% over the past year. The company is forecast to post earnings per share of US$3.90 for next year compared to US$3.96 last year. Announcement • Oct 27
TriCo Bancshares Reports Charge-Off for the Third Quarter Ended September 30, 2022 TriCo Bancshares reported charge-off for the third quarter ended September 30, 2022. For the quarter, the company reported loans charged-off of $267,000 against $1,582,000 a year ago. Reported Earnings • Oct 26
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$1.12 (up from US$0.92 in 3Q 2021). Revenue: US$106.0m (up 25% from 3Q 2021). Net income: US$37.3m (up 36% from 3Q 2021). Profit margin: 35% (up from 32% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Recent Insider Transactions • Sep 09
Independent Director recently bought US$124k worth of stock On the 6th of September, Anthony Leggio bought around 3k shares on-market at roughly US$45.80 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$23k more in shares than they bought in the last 12 months. Announcement • Aug 30
TriCo Bancshares Declares Quarterly Cash Dividend on Its Common Stock, Payable on September 23, 2022 The Board of Directors of TriCo Bancshares declared a quarterly cash dividend of $0.30 (thirty cents) per share on its common stock, no par value on August 25, 2022. This represents a $0.05 or 20% increase to the previous quarterly dividend. The dividend is payable on September 23, 2022 to holders of record on September 9, 2022. Recent Insider Transactions Derivative • Aug 14
Chairman exercised options and sold US$925k worth of stock On the 11th of August, Richard Smith exercised 44.00k options at around US$19.46, then sold 33k of the shares acquired at an average of US$47.57 per share and kept the remainder. For the year to December 2015, Richard's total compensation was 34% salary and 66% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2021, Richard's direct individual holding has increased from 260.12k shares to 1.33m. Company insiders have collectively sold US$1.9m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jul 28
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: US$0.94. Revenue: US$99.4m (up 19% from 2Q 2021). Net income: US$31.4m (up 11% from 2Q 2021). Profit margin: 32% (down from 34% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 20%, compared to a 15% growth forecast for the industry in the US. Announcement • Jul 28
TriCo Bancshares Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 TriCo Bancshares reported net charge-offs for the second quarter ended June 30, 2022. For the quarter, the company reported net charge-offs of $45,000. Announcement • Jul 27
TriCo Bancshares Announces the Demise of Donald J. Amaral, Director Donald J. Amaral, who was a director of TriCo Bancshares, passed away on July 20, 2022. Most recently Mr. Amaral was a member of the Company's audit, compensation and management succession, and nominating and corporate governance committees. Mr. Amaral diligently served on the Boards of Directors of the Company and its subsidiary. Recent Insider Transactions Derivative • Jul 15
Chairman exercised options and sold US$232k worth of stock On the 13th of July, Richard Smith exercised options to acquire 5k shares at no cost and sold these for an average price of US$45.53 per share. This trade did not impact their existing holding. For the year to December 2015, Richard's total compensation was 34% salary and 66% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2021, Richard's direct individual holding has increased from 248.31k shares to 1.33m. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jul 14
Price target increased to US$52.17 Up from US$48.67, the current price target is an average from 6 analysts. New target price is 16% above last closing price of US$44.79. Stock is up 8.0% over the past year. The company is forecast to post earnings per share of US$3.90 for next year compared to US$3.96 last year. Recent Insider Transactions Derivative • Jul 01
Chairman exercised options and sold US$51k worth of stock On the 27th of June, Richard Smith exercised options to acquire 1k shares at no cost and sold these for an average price of US$45.56 per share. This trade did not impact their existing holding. For the year to December 2015, Richard's total compensation was 34% salary and 66% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2021, Richard's direct individual holding has increased from 248.31k shares to 1.33m. Company insiders have collectively sold US$909k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 09
Chairman exercised options and sold US$91k worth of stock On the 6th of June, Richard Smith exercised options to acquire 2k shares at no cost and sold these for an average price of US$45.67 per share. This trade did not impact their existing holding. For the year to December 2015, Richard's total compensation was 34% salary and 66% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2021, Richard's direct individual holding has increased from 245.84k shares to 261.13k. Company insiders have collectively sold US$879k more than they bought, via options and on-market transactions in the last 12 months.