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TriCo Bancshares Full Year 2023 Earnings: EPS Misses Expectations

editorial-team@simplywallst.com (Simply Wall St)
·1-min read

TriCo Bancshares (NASDAQ:TCBK) Full Year 2023 Results

Key Financial Results

  • 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).

  • EPS: US$3.53 (down from US$3.85 in FY 2022).

TCBK Banking Performance Indicators

  • 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).

earnings-and-revenue-history
earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

TriCo Bancshares EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%.

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Looking ahead, 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.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Following the latest earnings results, TriCo Bancshares may be undervalued based on 6 different valuation benchmarks we assess. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.