TriCo Bancshares $TCBK Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in TriCo Bancshares (NASDAQ:TCBK) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of TriCo Bancshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock worth $73,532,000 after purchasing an additional 27,348 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TriCo Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock valued at $71,436,000 after buying an additional 39,684 shares during the last quarter. Sweeney & Michel LLC acquired a new position in shares of TriCo Bancshares during the first quarter valued at approximately $4,963,000. Bridgeway Capital Management LLC increased its stake in shares of TriCo Bancshares by 42.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 98,153 shares of the financial services provider’s stock valued at $4,289,000 after acquiring an additional 29,419 shares during the period. Finally, Nuveen LLC acquired a new position in TriCo Bancshares in the first quarter worth approximately $3,568,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $44.88 on Monday. 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 $41.76 and a 200 day simple moving average of $40.87. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.20 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $103.61 million during the quarter, compared to analysts’ expectations of $101.15 million. TriCo Bancshares had a net margin of 21.11% and a return on equity of 8.99%. Research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TCBK shares. Stephens reissued an “overweight” rating and set a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 target price (up previously from $43.00) on shares of TriCo Bancshares in a report on Friday, July 25th. DA Davidson boosted their price objective on shares of TriCo Bancshares from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Piper Sandler upped their target price on shares of TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

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.