TriCo Bancshares
Market Cap
US$894.4m
Last Updated
2020/04/08 04:48 UTC
Data Sources
Company Financials +
Executive Summary
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -16.7% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has TriCo Bancshares's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TCBK's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
3.3%
TCBK
0.7%
US Banks
2.4%
US Market
1 Year Return
-25.2%
TCBK
-28.9%
US Banks
-10.0%
US Market
Return vs Industry: TCBK exceeded the US Banks industry which returned -28.9% over the past year.
Return vs Market: TCBK underperformed the US Market which returned -10% over the past year.
Shareholder returns
| TCBK | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.3% | 0.7% | 2.4% |
| 30 Day | -3.3% | -18.9% | -11.0% |
| 90 Day | -26.1% | -39.2% | -19.4% |
| 1 Year | -23.4%-25.2% | -26.8%-28.9% | -8.1%-10.0% |
| 3 Year | -7.7%-13.2% | -17.2%-23.3% | 17.3%9.6% |
| 5 Year | 34.5%21.4% | 8.1%-4.4% | 36.1%21.1% |
Price Volatility Vs. Market
How volatile is TriCo Bancshares's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Does TriCo Bancshares (NASDAQ:TCBK) Have A Volatile Share Price?1 month ago | Simply Wall St
TriCo Bancshares's (NASDAQ:TCBK) Could Be A Buy For Its Upcoming Dividend1 month ago | Simply Wall St
Here's What TriCo Bancshares's (NASDAQ:TCBK) P/E Ratio Is Telling UsValuation
Is TriCo Bancshares undervalued compared to its fair value and its price relative to the market?
38.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TCBK ($29.39) is trading below our estimate of fair value ($47.54)
Significantly Below Fair Value: TCBK is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TCBK is poor value based on its PE Ratio (9.7x) compared to the Banks industry average (8.7x).
PE vs Market: TCBK is good value based on its PE Ratio (9.7x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: TCBK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: TCBK is overvalued based on its PB Ratio (1x) compared to the US Banks industry average (0.8x).
Next Steps
Future Growth
How is TriCo Bancshares forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
-16.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TCBK's earnings are forecast to decline over the next 3 years (-16.7% per year).
Earnings vs Market: TCBK's earnings are forecast to decline over the next 3 years (-16.7% per year).
High Growth Earnings: TCBK's earnings are forecast to decline over the next 3 years.
Revenue vs Market: TCBK's revenue is expected to decline over the next 3 years (-1.8% per year).
High Growth Revenue: TCBK's revenue is forecast to decline over the next 3 years (-1.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TCBK's Return on Equity is forecast to be low in 3 years time (8.1%).
Next Steps
Past Performance
How has TriCo Bancshares performed over the past 5 years?
20.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TCBK has high quality earnings.
Growing Profit Margin: TCBK's current net profit margins (29.6%) are higher than last year (26.1%).
Past Earnings Growth Analysis
Earnings Trend: TCBK's earnings have grown significantly by 20.9% per year over the past 5 years.
Accelerating Growth: TCBK's earnings growth over the past year (34.8%) exceeds its 5-year average (20.9% per year).
Earnings vs Industry: TCBK earnings growth over the past year (34.8%) exceeded the Banks industry 10.8%.
Return on Equity
High ROE: TCBK's Return on Equity (10.2%) is considered low.
Next Steps
Financial Health
How is TriCo Bancshares's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: TCBK's level of assets compared to its equity is low.
Allowance for Bad Loans: TCBK has a sufficient allowance for bad loans.
Low Risk Liabilities: TCBK's liabilities are made up of primarily low risk sources of funding.
Loan Level: TCBK has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TCBK's loans are broadly funded by customer deposits.
Level of Bad Loans: TCBK has an appropriate level of bad loans (0.39%)
Next Steps
Dividend
What is TriCo Bancshares's current dividend yield, its reliability and sustainability?
2.99%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TCBK's dividend (2.99%) is higher than the bottom 25% of dividend payers in the US market (1.93%).
High Dividend: TCBK's dividend (2.99%) is low compared to the top 25% of dividend payers in the US market (5.46%).
Stability and Growth of Payments
Stable Dividend: TCBK's dividend payments have been volatile in the past 10 years.
Growing Dividend: TCBK's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (27.1%), TCBK's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TCBK's dividends in 3 years are forecast to be well covered by earnings (43.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.8yrs
Average management tenure
CEO
Rick Smith (61yo)
20.42s
Tenure
US$3,249,147
Compensation
Mr. Richard P. Smith, also known as Rick, has been the Chief Executive Officer of TriCo Bancshares since November 1999. Mr. Smith has also been the Chief Executive Officer of Tri Counties Bank, a subsidiar ...
CEO Compensation Analysis
Compensation vs Market: Rick's total compensation ($USD3.25M) is about average for companies of similar size in the US market ($USD3.18M).
Compensation vs Earnings: Rick's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.42yrs | US$3.25m | 0.87% $7.8m | |
| EVP & CFO | 1.67yrs | US$1.02m | 0.017% $155.8k | |
| Executive VP & COO | 3.33yrs | US$804.07k | 0.031% $281.7k | |
| Corporate Secretary & Director | 31.25yrs | US$118.42k | 0.50% $4.5m | |
| Executive VP & Chief Credit Officer of Tri Counties Bank | 23.25yrs | US$604.16k | 0.12% $1.1m | |
| Shareholder Relations | 3.25yrs | no data | no data | |
| Vice President | no data | no data | no data | |
| Vice President and Marketing Director | 6.25yrs | no data | no data | |
| Senior VP & Chief Human Resource Officer | 6.75yrs | no data | 0.025% $221.1k | |
| Executive VP & Chief Banking Officer | 12.92yrs | US$660.64k | 0.15% $1.3m |
6.8yrs
Average Tenure
59yo
Average Age
Experienced Management: TCBK's management team is seasoned and experienced (6.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.42yrs | US$3.25m | 0.87% $7.8m | |
| Corporate Secretary & Director | 31.25yrs | US$118.42k | 0.50% $4.5m | |
| Chairman & Lead Director | 19.25yrs | US$144.02k | 2.09% $18.7m | |
| Independent Director | 17.25yrs | US$124.12k | 0.037% $332.3k | |
| Independent Director | 11.08yrs | US$87.34k | 0.034% $301.8k | |
| Vice Chairman of the Board | 10.25yrs | US$206.53k | 0.34% $3.1m | |
| Independent Director | 18.25yrs | US$200.11k | 0.13% $1.2m | |
| Independent Director | 5.5yrs | US$89.93k | 0.13% $1.2m | |
| Independent Director | 12.17yrs | US$87.34k | 0.16% $1.5m | |
| Independent Director | 7.17yrs | US$87.34k | 0.020% $183.1k |
14.7yrs
Average Tenure
62.5yo
Average Age
Experienced Board: TCBK's board of directors are seasoned and experienced ( 14.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14.6%.
Top Shareholders
Company Information
TriCo Bancshares's company bio, employee growth, exchange listings and data sources
Key Information
- Name: TriCo Bancshares
- Ticker: TCBK
- Exchange: NasdaqGS
- Founded: 1974
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$894.424m
- Shares outstanding: 30.43m
- Website: https://www.tcbk.com
Number of Employees
Location
- TriCo Bancshares
- 63 Constitution Drive
- Chico
- California
- 95973
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TCBK | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Apr 1993 |
Biography
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans. In addition, the company offers treasury management services; and other customary banking services, including safe deposit boxes. Further, it provides independent financial and broker-dealer services. The company operates 69 traditional branches, 9 in-store branches, and 2 loan production offices in northern and central California. TriCo Bancshares was incorporated in 1974 and is headquartered in Chico, California.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/08 04:48 |
| End of Day Share Price | 2020/04/07 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.