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| Snag This Bargain Even Cheaper Than Director Koehnen DidBy Dividend Channel Staff, Friday, June 23, 4:30 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 31, TriCo Bancshares's Director, Michael W. Koehnen, invested $165,000.00 into 5,000 shares of TCBK, for a cost per share of $33.00. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Friday, bargain hunters could buy shares of TriCo Bancshares (NASDAQ:TCBK) and achieve a cost basis even cheaper than Koehnen, with shares changing hands as low as $32.92 per share. It should be noted that Koehnen has collected $0.30/share in dividends since the time of their purchase, so they are currently up 0.7% on their purchase from a total return basis. TriCo Bancshares shares are currently trading off about 2.8% on the day. The chart below shows the one year performance of TCBK shares, versus its 200 day moving average:
Looking at the chart above, TCBK's low point in its 52 week range is $28.66 per share, with $58.62 as the 52 week high point — that compares with a last trade of $33.26. By comparison, below is a table showing the prices at which TCBK insider buying was recorded over the last six months:
The current annualized dividend paid by TriCo Bancshares is $1.2/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 06/08/2023. Below is a long-term dividend history chart for TCBK, which can be of good help in judging whether the most recent dividend with approx. 3.5% annualized yield is likely to continue.
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