NasdaqGS:TCBK

Stock Analysis Report

Executive Summary

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers.


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

TCBKIndustryMarket
7 Day3.3%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 Year34.5%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

Valuation

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

NamePositionTenureCompensationOwnership
Richard Smith
President20.42yrsUS$3.25m0.87% $7.8m
Peter Wiese
EVP & CFO1.67yrsUS$1.02m0.017% $155.8k
John Fleshood
Executive VP & COO3.33yrsUS$804.07k0.031% $281.7k
Craig Compton
Corporate Secretary & Director31.25yrsUS$118.42k0.50% $4.5m
Craig Carney
Executive VP & Chief Credit Officer of Tri Counties Bank23.25yrsUS$604.16k0.12% $1.1m
Jason Cove
Shareholder Relations3.25yrsno datano data
Bruce Belton
Vice Presidentno datano datano data
Michael Murphy
Vice President and Marketing Director6.25yrsno datano data
Glenn Hunter
Senior VP & Chief Human Resource Officer6.75yrsno data0.025% $221.1k
Daniel Bailey
Executive VP & Chief Banking Officer12.92yrsUS$660.64k0.15% $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

NamePositionTenureCompensationOwnership
Richard Smith
President20.42yrsUS$3.25m0.87% $7.8m
Craig Compton
Corporate Secretary & Director31.25yrsUS$118.42k0.50% $4.5m
William Casey
Chairman & Lead Director19.25yrsUS$144.02k2.09% $18.7m
Donald Amaral
Independent Director17.25yrsUS$124.12k0.037% $332.3k
W. Walker
Independent Director11.08yrsUS$87.34k0.034% $301.8k
Michael Koehnen
Vice Chairman of the Board10.25yrsUS$206.53k0.34% $3.1m
John S. Hasbrook
Independent Director18.25yrsUS$200.11k0.13% $1.2m
Martin Mariani
Independent Director5.5yrsUS$89.93k0.13% $1.2m
L. Chrysler
Independent Director12.17yrsUS$87.34k0.16% $1.5m
Cory Giese
Independent Director7.17yrsUS$87.34k0.020% $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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TCBKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/08 04:48
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.