TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and 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; and independent financial and broker-dealer services. It operates 66 traditional branches, 7 in-store branches, and 2 loan production offices in northern and central California. The company was incorporated in 1974 and is headquartered in Chico, California.
IPO Year:
Exchange: NASDAQ
Website: tcbk.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/12/2024 | $50.00 → $53.00 | Buy → Neutral | DA Davidson |
| 7/26/2024 | Buy → Neutral | Janney | |
| 5/11/2022 | $46.00 → $48.00 | Equal-Weight → Overweight | Stephens |
| 5/3/2022 | $49.00 | Neutral → Buy | Janney |
| 1/26/2022 | $47.00 → $49.00 | Outperform | Raymond James |
| 10/27/2021 | $46.00 → $47.00 | Outperform | Raymond James |
| 9/7/2021 | $44.00 → $47.00 | Neutral → Buy | DA Davidson |
| 8/3/2021 | $49.00 | Neutral → Overweight | Piper Sandler |
| 7/29/2021 | $50.00 → $46.00 | Outperform | Raymond James |
TriCo Bancshares (NASDAQ:TCBK) ("TriCo") has completed its previously-announced merger with Valley Republic Bancorp (OTC:VLLX) ("Valley") as of March 25, 2022. The combined company, operating as TriCo Bancshares with its banking subsidiary, Tri Counties Bank, anticipates having total assets of approximately $10.1 billion as the result of the merger. "We are excited to combine two community-focused financial institutions which are both significantly involved in the markets they serve," said Richard P. Smith, President and CEO of TriCo and Tri Counties Bank. "We look forward to providing our new clients with additional lending capabilities and expanded product offerings while delivering our
3Q24 Financial Highlights Net income was $29.1 million or $0.88 per diluted share as compared to $29.0 million or $0.87 per diluted share in the trailing quarter Deposit balances decreased $13.1 million or 0.7% (annualized) from the trailing quarter and have increased $27.4 million or 0.3% (annualized) from the same quarter of the prior year Average yield on earning assets was 5.26%, an increase of 2 basis points over the 5.24% in the trailing quarter Net interest margin (FTE) was 3.71% in the recent quarter, an increase of 3 basis points over 3.68% in the trailing quarter Non-interest bearing deposits averaged 31.7% of total deposits during the quarter The average cost of total
Tri Counties Bank announced today the hire of Scott Myers as Head of Wholesale Banking. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240910179622/en/Scott Myers, Head of Wholesale Banking for Tri Counties Bank (Photo: Business Wire) Myers brings more than 25 years of financial services industry experience, previously serving as Chief Lending Officer for California Bank of Commerce, and prior to that, Middle Market Region Manager at Wells Fargo. In his new role, Myers will lead relationship teams in Middle Market & Specialty Banking, Commercial Banking, Business Banking, Treasury Management, and Merchant Card Services across the
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.33 (thirty-three 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. This represents the Company's 140th consecutive quarterly cash dividend payment. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches in communities throughou
Tri Counties Bank announced today the launch of its Community Cares Basic Needs Drive, in partnership with the Foundation for California Community Colleges. The Community Cares Basic Needs Drive – which will help provide basic needs supplies to community college students – runs now through September 30, 2024, at Tri Counties Bank locations throughout California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240801785539/en/ A recent study found that two out of three California community college students grapple with meeting at least one basic need. Fortunately, campuses are finding new ways to address these challenges – as of t
2Q24 Financial Highlights Net income increased to $29.0 million or $0.87 per diluted share as compared to $27.7 million or $0.83 per diluted share in the trailing quarter Deposit balances increased $62.6 million or 3.1% (annualized) from the trailing quarter Average yield on earning assets was 5.24%, an increase of 11 basis points over the 5.13% in the trailing quarter Net interest margin (FTE) was 3.68% in the recent quarter, unchanged from the trailing quarter Non-interest bearing deposits averaged 32.0% of total deposits during the quarter The average cost of total deposits was 1.45%, an increase of 24 basis points as compared to 1.21% in the trailing quarter, and an in
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value on May 23, 2024. The dividend is payable on June 21, 2024, to holders of record on June 7, 2024. This represents the Company's 139th consecutive quarterly cash dividend payment. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches in communities throughout Northern an
Tri Counties Bank, in partnership with the Community Foundation of the North State, issued $110,000 in scholarships this May to graduating high school seniors throughout California. The scholarships ranged between $1,000 to $1,500 each, and were awarded to 80 students from 55 high schools in 24 counties. Tri Counties Bank provides two scholarship opportunities: an income-based scholarship for students with a Student Aid Index (SAI) of 0 or less and a minimum GPA of 2.5, and a merit-based scholarship for students with a weighted cumulative GPA of 3.0 or higher. Sixty $1,500 scholarships were awarded to low-to-moderate income students and twenty $1,000 scholarships were awarded based on m
1Q24 Financial Highlights Net income was $27.7 million compared to $26.1 million in the trailing quarter; pre-tax pre-provision net revenue was $42.0 million compared to $42.4 million in the trailing quarter Deposit balances increased $153.6 million or 7.8% (annualized) from the trailing quarter, respectively Average yield on earning assets was 5.13%, an increase of 4 basis points over the 5.09% in the trailing quarter Net interest margin was 3.68% in the recent quarter, narrowing 13 basis points from 3.81% in the trailing quarter; management expects that net interest margin will reach an inflection point in the second half of 2024 Non-interest bearing deposits averaged 3
Tri Counties Bank, a leading community bank in California, kicked off its 50th Anniversary Celebration today with the launch of a year-long fundraising campaign to support the California Community Colleges Student Ambassador Program. In a press event at Sacramento City College, the bank launched the campaign with a $50,000 contribution and announced it will hold a variety of fundraising events and volunteer activities in partnership with the Foundation for California Community Colleges (FoundationCCC), which oversees the program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240313397944/en/ The Student Ambassador Program train
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, 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. President and CEO, Richard Smith noted; "Not only does this dividend reflect an increase of 10% over the prior quarter, since 1989 the Company has consistently paid a quarterly cash dividend with this representing our 138th consecutive quarterly payment, which is reflective of the Company's strength, stability and our commitment to building shareholder value for nearly 50
DA Davidson downgraded TriCo Bancshares from Buy to Neutral and set a new price target of $53.00 from $50.00 previously
Janney downgraded TriCo Bancshares from Buy to Neutral
Stephens upgraded TriCo Bancshares from Equal-Weight to Overweight and set a new price target of $48.00 from $46.00 previously
Janney upgraded TriCo Bancshares from Neutral to Buy and set a new price target of $49.00
Raymond James reiterated coverage of TriCo with a rating of Outperform and set a new price target of $49.00 from $47.00 previously
Raymond James reiterated coverage of TriCo with a rating of Outperform and set a new price target of $47.00 from $46.00 previously
DA Davidson upgraded TriCo Bancshares from Neutral to Buy and set a new price target of $47.00 from $44.00 previously
Piper Sandler upgraded TriCo from Neutral to Overweight and set a new price target of $49.00
Raymond James reiterated coverage of TriCo with a rating of Outperform and set a new price target of $46.00 from $50.00 previously
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3Q24 Financial Highlights Net income was $29.1 million or $0.88 per diluted share as compared to $29.0 million or $0.87 per diluted share in the trailing quarter Deposit balances decreased $13.1 million or 0.7% (annualized) from the trailing quarter and have increased $27.4 million or 0.3% (annualized) from the same quarter of the prior year Average yield on earning assets was 5.26%, an increase of 2 basis points over the 5.24% in the trailing quarter Net interest margin (FTE) was 3.71% in the recent quarter, an increase of 3 basis points over 3.68% in the trailing quarter Non-interest bearing deposits averaged 31.7% of total deposits during the quarter The average cost of total
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.33 (thirty-three 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. This represents the Company's 140th consecutive quarterly cash dividend payment. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches in communities throughou
2Q24 Financial Highlights Net income increased to $29.0 million or $0.87 per diluted share as compared to $27.7 million or $0.83 per diluted share in the trailing quarter Deposit balances increased $62.6 million or 3.1% (annualized) from the trailing quarter Average yield on earning assets was 5.24%, an increase of 11 basis points over the 5.13% in the trailing quarter Net interest margin (FTE) was 3.68% in the recent quarter, unchanged from the trailing quarter Non-interest bearing deposits averaged 32.0% of total deposits during the quarter The average cost of total deposits was 1.45%, an increase of 24 basis points as compared to 1.21% in the trailing quarter, and an in
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, declared a quarterly cash dividend of $0.33 (thirty-three cents) per share on its common stock, no par value on May 23, 2024. The dividend is payable on June 21, 2024, to holders of record on June 7, 2024. This represents the Company's 139th consecutive quarterly cash dividend payment. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches in communities throughout Northern an
1Q24 Financial Highlights Net income was $27.7 million compared to $26.1 million in the trailing quarter; pre-tax pre-provision net revenue was $42.0 million compared to $42.4 million in the trailing quarter Deposit balances increased $153.6 million or 7.8% (annualized) from the trailing quarter, respectively Average yield on earning assets was 5.13%, an increase of 4 basis points over the 5.09% in the trailing quarter Net interest margin was 3.68% in the recent quarter, narrowing 13 basis points from 3.81% in the trailing quarter; management expects that net interest margin will reach an inflection point in the second half of 2024 Non-interest bearing deposits averaged 3
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), parent company of Tri Counties Bank, 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. President and CEO, Richard Smith noted; "Not only does this dividend reflect an increase of 10% over the prior quarter, since 1989 the Company has consistently paid a quarterly cash dividend with this representing our 138th consecutive quarterly payment, which is reflective of the Company's strength, stability and our commitment to building shareholder value for nearly 50
TriCo Bancshares (NASDAQ:TCBK): Notable Items from the Quarter Net income was $26.1 million compared to $30.6 million in the trailing quarter, and compared to $36.3 million in the same quarter of the prior year; Pre-tax pre-provision net revenue was $42.4 million compared to $46.2 million in the trailing quarter, and compared to $55.3 million in the same quarter of the prior year Cash flows generated from the investment securities portfolio and use of borrowing capacities continue to support the overall balance sheet with the loan to deposit ratio reaching 86.7% Proceeds of $46.9 million from the sale of available-for-sale investment securities resulted in a pre-tax realized loss
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), 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 November 16, 2023. The dividend is payable on December 22, 2023 to holders of record on December 8, 2023. This is the 124th consecutive quarterly cash dividend, and is reflective of the Company's strength, stability and commitment to shareholder value. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stan
Notable Items for Third Quarter 2023 Net income was $30.6 million compared to $24.9 million in the trailing quarter, and compared to $37.3 million in the same quarter of the prior year; Pre-tax pre-provision net revenue was $46.2 million compared to $43.1 million in the trailing quarter, and compared to $55.3 million in the same quarter of the prior year Return on average assets was 1.23% for the current quarter as compared to 1.01% in the trailing quarter and 1.46% in the same quarter of the prior year The Bank continues to operate a balance sheet without the utilization of brokered deposits or FRB borrowings Loan balances increased $187.9 million or 2.9% while deposit balances
The Board of Directors of TriCo Bancshares (NASDAQ:TCBK) (the "Company"), 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 August 24, 2023. The dividend is payable on September 22, 2023 to holders of record on September 8, 2023. This is the 123rd consecutive quarterly cash dividend, and is reflective of the Company's strength, stability and commitment to shareholder value. Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stan
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TriCo (NASDAQ:TCBK) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.80 by 3.75 percent. This is a 22.43 percent decrease over earnings of $1.07 per share from the same period last year. The company reported quarterly sales of $98.507 million which missed the analyst consensus estimate of $100.039 million by 1.53 percent. This is a 7.91 percent decrease over sales of $106.971 million the same period last year.
DA Davidson analyst Jeff Rulis maintains TriCo (NASDAQ:TCBK) with a Buy and lowers the price target from $49 to $45.
Keefe, Bruyette & Woods has decided to maintain its Market Perform rating of TriCo (NASDAQ:TCBK) and lower its price target from $44.00 to $42.00. Shares of TriCo are trading up 0.0% over the last 24 hours, at $38.27 per share. A move to $42.00 would account for a 9.75% increase from the current share price. About TriCo TriCo Bancshares is a California corporation organized to act as a bank holding company for Tri Counties Bank. The Bank is a California-chartered bank that is engaged in the general commercial and retail banking business in California counties. The Bank provides a breadth of personal, small business and commercial financial services including accepting demand, savings and tim
Keefe, Bruyette & Woods analyst Kelly Motta maintains TriCo (NASDAQ:TCBK) with a Market Perform and lowers the price target from $44 to $42.
Raymond James analyst David Feaster maintains TriCo (NASDAQ:TCBK) with a Outperform and raises the price target from $36 to $40.
Wednesday marks the last chance for investors to receive the next dividend payout from TriCo (NASDAQ:TCBK). What's Happening The company announced on Monday that it would pay shareholders a quarterly dividend of 30 cents per share. On Thursday, TriCo will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 30 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own TCBK as of the end of Wednesday's session are eligible to receive the 30 cents dividend payout for ev
Piper Sandler analyst Matthew Clark maintains TriCo (NASDAQ:TCBK) with a Overweight and lowers the price target from $43 to $41.