Cory W. Giese, a director at Trico Bancshares (NASDAQ:TCBK), recently sold 5,100 shares of the company's common stock. The shares were sold at an average price of $49.47, amounting to a total transaction value of $252,275. The transaction comes as TCBK, a $1.63 billion market cap company, has shown strong momentum with a 37% gain over the past six months. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value. Following this sale, Giese retains 6,128.47 shares directly. Additionally, Giese holds 44,242 shares indirectly through a spouse and 1,137,040 shares as an ESOP Trustee. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission. The bank has maintained dividend payments for 32 consecutive years, with a current yield of 2.7%. For deeper insights into insider transactions and additional financial metrics, InvestingPro subscribers have access to 8 more key investment tips.
In other recent news, TriCo Bancshares has been the subject of several analyst adjustments. DA Davidson downgraded its rating from Buy to Neutral, despite raising the stock target to $53.00 from $50.00. The firm cites the bank's potential re-emergence in mergers and acquisitions and less compelling growth positioning as reasons for the downgrade.
On the other hand, Stephens maintained an Overweight rating on TriCo Bancshares, even as it reduced the price target to $50.00 from $52.00. The firm cited the bank's third-quarter operational earnings per share (Op. EPS) of $0.87, which surpassed both analyst and consensus expectations, as a positive indicator.
Meanwhile, Piper Sandler lowered its price target for TriCo Bancshares from $53.00 to $50.00, while maintaining an Overweight rating. The firm revised its earnings per share (EPS) estimates for the years 2024 and 2025 to $3.40 and $3.35, respectively, due to an anticipated decrease in net interest income.
These recent developments reflect different perspectives on the company's performance and outlook. Despite the adjustments, all firms seem to agree that TriCo Bancshares warrants a premium valuation due to its strong performance and conservative credit practices.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.