The company has reported a tangible book value per share of $28.73 for the first quarter. Additionally, the firm achieved a Common Equity Tier 1 (CET1) capital ratio of 13.3%, underscoring its solid financial standing.
Despite what is typically a slower period for lending and deposits, the company successfully expanded its customer base, grew deposits, and originated loans, even amid challenging economic conditions. This performance reflects the company's strategic focus on core business operations. The organization has also been lauded for its community impact, having completed its latest Community Reinvestment Act examination with an "Outstanding" rating. CEO Rick Smith emphasized the importance of these achievements in maintaining the firm's robust market position.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for TriCo Bancshares (TCBK, Financial) is $48.33 with a high estimate of $56.00 and a low estimate of $45.00. The average target implies an upside of 24.47% from the current price of $38.83. More detailed estimate data can be found on the TriCo Bancshares (TCBK) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, TriCo Bancshares's (TCBK, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for TriCo Bancshares (TCBK, Financial) in one year is $44.83, suggesting a upside of 15.45% from the current price of $38.83. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the TriCo Bancshares (TCBK) Summary page.
