California Public Employees Retirement System lowered its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,938 shares of the financial services provider’s stock after selling 1,200 shares during the period. California Public Employees Retirement System owned 0.30% of Sierra Bancorp worth $1,005,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. American International Group Inc. boosted its stake in Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 478 shares in the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the second quarter valued at $204,000. Wells Fargo & Company MN boosted its stake in Sierra Bancorp by 2.4% in the second quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 196 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Sierra Bancorp in the second quarter valued at $234,000. Finally, Russell Investments Group Ltd. boosted its stake 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 valued at $476,000 after acquiring an additional 12,350 shares in the last quarter. Hedge funds and other institutional investors own 53.43% of the company’s stock.
Shares of Sierra Bancorp (BSRR) opened at $25.20 on Monday. Sierra Bancorp has a 1-year low of $19.31 and a 1-year high of $29.50. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $383.51, a PE ratio of 16.80, a PEG ratio of 2.08 and a beta of 0.80.
Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.87%. The business had revenue of $24.35 million during the quarter, compared to analysts’ expectations of $23.90 million. sell-side analysts anticipate that Sierra Bancorp will post 1.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.22%. Sierra Bancorp’s payout ratio is 37.33%.
BSRR has been the subject of several research analyst reports. DA Davidson downgraded shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Monday, September 25th. ValuEngine downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Hovde Group upped their price objective on shares of Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, BidaskClub downgraded shares of Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Sierra Bancorp currently has an average rating of “Hold” and a consensus price target of $28.15.
In other Sierra Bancorp news, Director Robb Evans bought 1,000 shares of Sierra Bancorp stock in a transaction dated Monday, October 30th. The stock was acquired at an average cost of $26.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the director now owns 16,000 shares of the company’s stock, valued at $416,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.24% of the stock is currently owned by corporate insiders.
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Sierra Bancorp Profile
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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