In a recent transaction, Craig B. Carney, the Executive Vice President and Chief Credit Officer of Trico Bancshares (NASDAQ:TCBK), sold a total of 757 shares of the company's common stock. The transaction, dated May 14, 2024, was executed at a price of $38.0 per share, resulting in a total value of $28,766.
Carney's sale is part of the regular financial disclosures made by company insiders. Following the transaction, Carney still owns a significant number of shares, with 32,325 shares remaining in his direct ownership. This level of ownership indicates a continued vested interest in the company's performance and future.
In addition to the sale, the filing also reported ownership adjustments that did not involve any transactions. These adjustments were reflected in the shares beneficially owned by an Employee Stock Ownership Plan (ESOP) and by Carney's daughter, amounting to 19,560.87 and 156.17 shares respectively. As noted in the footnotes of the report, no transactions occurred with these shares; the adjustments were made solely to update the record of shares beneficially owned.
Investors and market watchers often monitor insider transactions as they can provide insights into the company's health and the confidence levels of its top executives. The sale by Carney, while notable, is balanced by his ongoing substantial stake in Trico Bancshares.
Trico Bancshares, headquartered in Chico, California, operates as a state commercial bank and is known for its financial services in the region. The company's stock trades under the ticker symbol TCBK on the NASDAQ exchange.
InvestingPro Insights
Trico Bancshares (NASDAQ:TCBK) has shown a commitment to its shareholders through a consistent dividend policy, having raised its dividend for 11 consecutive years, and maintaining dividend payments for 32 consecutive years. This dedication to returning value to investors is reflected in the company's latest dividend yield, which stands at a notable 3.46%. The company's ability to sustain these payments is supported by its profitability over the last twelve months, with a basic EPS (Continuing Operations) of $3.29.
However, not all signs are positive. The company has seen a revenue decline of 7.85% over the last twelve months as of Q1 2024, which may raise concerns about growth prospects. Additionally, three analysts have revised their earnings expectations downwards for the upcoming period, suggesting that there may be challenges ahead. Investors should consider these factors alongside the company's strong return over the last month, which was 16.8%, when evaluating the company's current position and future potential.
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