American Century Companies Inc. Sells 11,768 Shares of TriCo Bancshares $TCBK

Key Points

• American Century Companies Inc. reduced its stake in TriCo Bancshares by 2.5%, holding approximately 1.39% of the company worth $18.25 million after selling 11,768 shares.
• TriCo Bancshares reported $0.84 EPS for the quarter, exceeding the consensus estimate of $0.82, with a revenue of $103.61 million during the same period.
• Equities research analysts have set a consensus price target of $47.60 for TriCo Bancshares, with ratings reflecting a "Moderate Buy" sentiment from several analysts.

American Century Companies Inc. decreased its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,669 shares of the financial services provider's stock after selling 11,768 shares during the period. American Century Companies Inc. owned approximately 1.39% of TriCo Bancshares worth $18,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG lifted its stake in TriCo Bancshares by 51.8% during the 4th quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider's stock valued at $1,334,000 after acquiring an additional 10,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in TriCo Bancshares by 13.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,108 shares of the financial services provider's stock valued at $3,151,000 after acquiring an additional 8,588 shares during the period. Vanguard Group Inc. lifted its stake in TriCo Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider's stock valued at $73,532,000 after acquiring an additional 27,348 shares during the period. Public Employees Retirement System of Ohio lifted its stake in TriCo Bancshares by 591.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after acquiring an additional 2,524 shares during the period. Finally, GAMMA Investing LLC lifted its stake in TriCo Bancshares by 5,584.8% during the 1st quarter. GAMMA Investing LLC now owns 29,618 shares of the financial services provider's stock valued at $1,184,000 after acquiring an additional 29,097 shares during the period. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Price Performance

TCBK traded down $0.25 during trading on Friday, reaching $45.42. 57,137 shares of the company traded hands, compared to its average volume of 85,448. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $51.06. The firm has a fifty day simple moving average of $42.41 and a 200 day simple moving average of $40.93. The company has a market cap of $1.48 billion, a P/E ratio of 13.36 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.02. TriCo Bancshares had a net margin of 21.11% and a return on equity of 8.99%. The business had revenue of $103.61 million during the quarter, compared to analyst estimates of $101.15 million. On average, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, September 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from TriCo Bancshares's previous quarterly dividend of $0.33. TriCo Bancshares's dividend payout ratio is currently 38.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TCBK. Raymond James Financial restated an "outperform" rating and set a $45.00 target price (up previously from $43.00) on shares of TriCo Bancshares in a research note on Friday, July 25th. DA Davidson upped their target price on shares of TriCo Bancshares from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Piper Sandler upped their price target on shares of TriCo Bancshares from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Zacks Research raised shares of TriCo Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.60.

TriCo Bancshares Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.