Foundry Partners LLC cut its position in Sierra Bancorp (NASDAQ:BSRR) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,840 shares of the financial services provider’s stock after selling 2,500 shares during the period. Foundry Partners LLC’s holdings in Sierra Bancorp were worth $4,096,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Trexquant Investment LP bought a new position in Sierra Bancorp during the second quarter worth $204,000. Strs Ohio increased its position in Sierra Bancorp by 6.2% in the second quarter. Strs Ohio now owns 25,800 shares of the financial services provider’s stock worth $633,000 after buying an additional 1,500 shares during the period. Russell Investments Group Ltd. increased its position in Sierra Bancorp by 175.2% in the second quarter. Russell Investments Group Ltd. now owns 19,400 shares of the financial services provider’s stock worth $476,000 after buying an additional 12,350 shares during the period. Schwab Charles Investment Management Inc. increased its position in Sierra Bancorp by 33.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock worth $582,000 after buying an additional 5,300 shares during the period. Finally, Renaissance Technologies LLC increased its position in Sierra Bancorp by 43.4% in the first quarter. Renaissance Technologies LLC now owns 214,600 shares of the financial services provider’s stock worth $5,886,000 after buying an additional 64,905 shares during the period. 53.92% of the stock is currently owned by institutional investors and hedge funds.
Sierra Bancorp (BSRR) opened at 26.23 on Tuesday. The firm has a market capitalization of $362.97 million, a P/E ratio of 19.02 and a beta of 0.86. Sierra Bancorp has a 1-year low of $17.25 and a 1-year high of $29.50. The stock has a 50 day moving average of $25.28 and a 200-day moving average of $26.09.
Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%. On average, equities research analysts anticipate that Sierra Bancorp will post $1.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.56 annualized dividend and a yield of 2.13%. Sierra Bancorp’s dividend payout ratio is currently 40.88%.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. BidaskClub raised shares of Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Hovde Group upped their price target on shares of Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. raised shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 price target on shares of Sierra Bancorp in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.75.
In related news, Director Robert L. Fields sold 9,600 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the sale, the director now directly owns 412,543 shares of the company’s stock, valued at approximately $11,196,417.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Fields sold 2,465 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $27.13, for a total transaction of $66,875.45. Following the completion of the sale, the director now directly owns 410,078 shares in the company, valued at $11,125,416.14. The disclosure for this sale can be found here. Insiders sold a total of 12,165 shares of company stock worth $330,119 over the last ninety days. 15.24% of the stock is currently owned by insiders.
About Sierra Bancorp
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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