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Investing.com - DA Davidson lowered its price target on TriCo Bancshares (NASDAQ:TCBK) to $47.00 from $48.00 while maintaining a Neutral rating on the stock. The $1.4 billion market cap bank currently trades at an attractive P/E ratio of 12x, with InvestingPro analysis suggesting the stock is undervalued.
The firm noted that growth decelerated during the most recent quarter for the California-based bank. Despite slower growth, TriCo delivered an earnings beat driven by a rising net interest margin (NIM) and effective cost control measures. The bank maintains a strong dividend profile with a 3.5% yield and has increased its dividend for 12 consecutive years, maintaining payments for over three decades.
DA Davidson highlighted the bank’s strong performance in managing both credit and operational expenses, which contributed to the positive quarterly results. These factors led the firm to revise its 2026 earnings per share (EPS) outlook upward. InvestingPro data reveals that six analysts have recently revised their earnings estimates upward, suggesting growing confidence in the bank’s outlook.
The research note mentioned that TriCo remains active in share repurchases, continuing its buyback program. Despite this capital return activity, DA Davidson still views TriCo as a potential significant participant in California banking mergers and acquisitions.
The firm’s $47 price target represents a $1 reduction from its previous target of $48, while maintaining its Neutral stance on TriCo Bancshares stock.
In other recent news, TriCo Bancshares has announced an increase in its quarterly dividend. The Board of Directors declared a cash dividend of $0.36 per share, marking a 9.1% rise from the previous quarter. This dividend is set to be payable on September 19, 2025, to shareholders who are on record as of September 5, 2025. This move reflects the company’s ongoing commitment to returning value to its shareholders. The decision to increase the dividend comes amidst other financial updates and is a notable development for investors. The recent dividend increase is part of the company’s broader financial strategy. These updates are part of TriCo Bancshares’ recent developments.
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