Trico Bancshares director sells over $170k in company stock

In a recent transaction, Cory W. Giese, a director of Trico Bancshares (NASDAQ:TCBK), sold a significant amount of company stock, reflecting a notable move within the financial institution's insider trading activities. The sales, which occurred on August 16, amounted to a total of $170,921.

The transaction involved two separate sales of Trico Bancshares' common stock on the NASDAQ:TCBK. The first sale consisted of 3,465 shares at an average price of $43.11, while the second sale comprised 500 shares sold at $43.09 each. These transactions were executed in multiple trades, with prices ranging from $43.07 to $43.20, as indicated by the weighted average sale price reported in the filing.

Following these transactions, Giese still maintains a stake in the company. Directly, he holds 11,228.47 shares, and indirectly, through his spouse, he owns 44,242 shares. Additionally, an indirect holding is listed under an ESOP Trustee with a substantial 1,174,695 shares.

Investors and followers of Trico Bancshares will likely keep an eye on such insider trading activity as it provides insights into the perspectives of company executives and directors regarding the stock's value and prospects.

In other recent news, TriCo Bancshares has seen a positive shift in its earnings outlook, leading to a 10% increase in its stock target by Piper Sandler. The firm has revised its earnings per share (EPS) estimates for the bank, projecting a rise to $3.36 in 2024 and $3.51 in 2025, up from the previous figures of $3.20 and $3.22 respectively. This adjustment has led to an increased price target for the bank's shares, now standing at $53.00.

The revised target reflects a valuation at 15.0 times the estimated 2025 earnings per share, up from 14.5 times, a change attributed to anticipated higher market multiples. Piper Sandler's outlook for TriCo Bancshares is informed by several positive factors, including higher net interest margin, improved non-interest expense, and lower loan loss provisions.

The firm's confidence in TriCo Bancshares is further bolstered by the bank's robust performance metrics. Notably, the bank has demonstrated an above-average pre-provision net revenue return on assets, higher than average reserves, strong capital levels, and a low-cost core deposit base. These factors are expected to contribute to the bank's balance sheet flexibility and its ability to outperform its peers.

InvestingPro Insights

As Trico Bancshares (NASDAQ:TCBK) sees insider trading activity, it's important for investors to consider the company's financial health and market performance. With a market capitalization of approximately $1.44 billion and a P/E ratio of 12.77, Trico Bancshares appears to be valued conservatively in the market. The company's profitability over the last twelve months and a consistent history of dividend payments, including a 3.06% dividend yield as of the latest data, can be enticing for income-focused investors. Notably, Trico Bancshares has raised its dividend for 11 consecutive years and has maintained dividend payments for an impressive 32 years. This could signal confidence in the company's financial stability and commitment to returning value to shareholders.

Analyzing recent performance, Trico Bancshares has experienced a 1-year price total return of 24.08%, showing a strong market performance. Despite a slight revenue decline of 6.13% over the last twelve months, the company's operating income margin remains robust at 40.0%. Additionally, three analysts have revised their earnings upwards for the upcoming period, indicating potential optimism about the company's future earnings. With an InvestingPro fair value estimate of $53.69, slightly above the current price, there could be room for growth.

For those interested in further insights and metrics, there are additional InvestingPro Tips available for Trico Bancshares at Investing.com/pro/TCBK.

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