American Century Companies Inc. Grows Holdings in TriCo Bancshares (NASDAQ:TCBK)

American Century Companies Inc. boosted its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 30.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,451 shares of the financial services provider's stock after buying an additional 35,159 shares during the quarter. American Century Companies Inc. owned 0.46% of TriCo Bancshares worth $4,851,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TCBK. Franklin Resources Inc. lifted its position in TriCo Bancshares by 9.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,440,778 shares of the financial services provider's stock valued at $47,834,000 after purchasing an additional 122,674 shares during the last quarter. Alliancebernstein L.P. raised its holdings in TriCo Bancshares by 14.8% during the 3rd quarter. Alliancebernstein L.P. now owns 932,965 shares of the financial services provider's stock worth $41,657,000 after purchasing an additional 120,568 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TriCo Bancshares by 9.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 939,637 shares of the financial services provider's stock valued at $37,614,000 after purchasing an additional 84,055 shares during the last quarter. Schroder Investment Management Group grew its position in shares of TriCo Bancshares by 37.6% during the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider's stock worth $9,059,000 after buying an additional 77,221 shares during the period. Finally, State Street Corp lifted its holdings in TriCo Bancshares by 9.1% in the first quarter. State Street Corp now owns 817,166 shares of the financial services provider's stock valued at $32,711,000 after buying an additional 67,917 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCBK has been the topic of several recent analyst reports. StockNews.com lowered shares of TriCo Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of TriCo Bancshares from $44.00 to $42.00 and set a "market perform" rating on the stock in a report on Friday, January 26th. DA Davidson reduced their price objective on TriCo Bancshares from $49.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, January 26th. Finally, Raymond James boosted their target price on TriCo Bancshares from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.00.

TriCo Bancshares Stock Up 0.4 %

Shares of NASDAQ:TCBK traded up $0.15 during trading on Thursday, hitting $36.78. 149,985 shares of the company were exchanged, compared to its average volume of 121,505. TriCo Bancshares has a fifty-two week low of $28.66 and a fifty-two week high of $45.84. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $35.47 and a two-hundred day moving average price of $35.82. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 10.41 and a beta of 0.52.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.07). TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. The firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $101.30 million. As a group, research analysts anticipate that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from TriCo Bancshares's previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is presently 37.50%.

About TriCo Bancshares

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.