American Century Companies Inc. Has $15.98 Million Position in TriCo Bancshares (NASDAQ:TCBK)

American Century Companies Inc. lifted its holdings in TriCo Bancshares (NASDAQ:TCBK) by 27.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 403,712 shares of the financial services provider’s stock after purchasing an additional 86,689 shares during the period. American Century Companies Inc. owned 1.22% of TriCo Bancshares worth $15,975,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TCBK. SG Americas Securities LLC increased its position in TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares during the period. ProShare Advisors LLC grew its stake in shares of TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 758 shares during the period. Principal Financial Group Inc. raised its stake in TriCo Bancshares by 8.7% during the 4th quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 764 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in TriCo Bancshares by 4.4% in the 1st quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 764 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

Analysts Set New Price Targets

TCBK has been the topic of several research reports. Stephens boosted their price objective on shares of TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler upped their price target on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 price objective (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Finally, DA Davidson raised their target price on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.80.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $43.56 on Friday. The stock’s fifty day simple moving average is $43.94 and its 200 day simple moving average is $38.96. TriCo Bancshares has a one year low of $29.38 and a one year high of $48.80. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.28 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. On average, analysts expect that TriCo Bancshares will post 3.3 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now owns 11,228 shares in the company, valued at approximately $484,039.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $135,600. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

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.