TriCo Bancshares has been treading water for the past six months, recording a small return of 4% while holding steady at $47.43.

Is now the time to buy TriCo Bancshares, or should you be careful about including it in your portfolio? Get the full breakdown from our expert analysts, it’s free.

Why Is TriCo Bancshares Not Exciting?

We're swiping left on TriCo Bancshares for now. Here are three reasons there are better opportunities than TCBK and a stock we'd rather own.

1. Net Interest Income Points to Soft Demand

Markets consistently prioritize net interest income over non-recurring fees, recognizing its superior quality compared to the more unpredictable revenue streams.

TriCo Bancshares’s net interest income has grown at a 6.4% annualized rate over the last five years, worse than the broader banking industry and in line with its total revenue.

2. Recent EPS Growth Below Our Standards

Although long-term earnings trends give us the big picture, we like to analyze EPS over a shorter period to see if we are missing a change in the business.

TriCo Bancshares’s EPS grew at a weak 2.4% compounded annual growth rate over the last two years. On the bright side, this performance was higher than its flat revenue and tells us management responded to softer demand by adapting its cost structure.

3. Projected TBVPS Growth Is Slim

The key to tangible book value per share (TBVPS) growth is a bank’s ability to earn consistent returns on its assets that exceed its funding costs and credit losses.

Over the next 12 months, Consensus estimates call for TriCo Bancshares’s TBVPS to grow by 9.1% to $34.40, paltry growth rate.

Final Judgment

TriCo Bancshares isn’t a terrible business, but it isn’t one of our picks. That said, the stock currently trades at 1.1× forward P/B (or $47.43 per share). While this valuation is reasonable, we don’t really see a big opportunity at the moment. We're fairly confident there are better investments elsewhere. We’d recommend looking at one of Charlie Munger’s all-time favorite businesses.

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