Private Management Group Inc. Sells 986 Shares of Sierra Bancorp (NASDAQ:BSRR)

Private Management Group Inc. cut its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 652,728 shares of the financial services provider’s stock after selling 986 shares during the period. Private Management Group Inc.’s holdings in Sierra Bancorp were worth $14,719,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BSRR. SG Americas Securities LLC bought a new position in Sierra Bancorp in the third quarter valued at approximately $120,000. Los Angeles Capital Management LLC bought a new position in Sierra Bancorp in the third quarter valued at approximately $689,000. Finally, Assenagon Asset Management S.A. grew its stake in Sierra Bancorp by 2.1% in the third quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock valued at $1,002,000 after purchasing an additional 1,095 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Sierra Bancorp Stock Performance

Shares of NASDAQ BSRR traded up $1.03 during midday trading on Tuesday, hitting $19.96. 23,794 shares of the company’s stock were exchanged, compared to its average volume of 27,086. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sierra Bancorp has a 12 month low of $15.01 and a 12 month high of $23.21. The company’s 50 day moving average price is $18.69 and its 200 day moving average price is $19.51. The firm has a market capitalization of $292.37 million, a PE ratio of 8.46 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.26). Sierra Bancorp had a return on equity of 11.03% and a net margin of 18.01%. The business had revenue of $50.49 million for the quarter, compared to the consensus estimate of $35.15 million. As a group, analysts predict that Sierra Bancorp will post 2.33 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, April 29th. This represents a $0.92 annualized dividend and a dividend yield of 4.61%. Sierra Bancorp’s dividend payout ratio is currently 38.98%.

Analyst Ratings Changes

BSRR has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price target on Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating for the company in a research note on Tuesday. Janney Montgomery Scott upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating and decreased their price target for the company from $24.00 to $23.00 in a research note on Tuesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

About Sierra Bancorp

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.