First Trust Advisors LP boosted its stake in shares of Sierra Bancorp (NASDAQ:BSRR) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,408 shares of the financial services provider’s stock after buying an additional 9,571 shares during the period. First Trust Advisors LP owned approximately 0.28% of Sierra Bancorp worth $1,254,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in BSRR. Acadian Asset Management LLC raised its holdings in Sierra Bancorp by 90.2% during the 2nd quarter. Acadian Asset Management LLC now owns 4,834 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,292 shares during the period. Bank of Montreal Can raised its holdings in Sierra Bancorp by 5,069.0% during the 3rd quarter. Bank of Montreal Can now owns 5,169 shares of the financial services provider’s stock worth $149,000 after buying an additional 5,069 shares during the period. Citadel Advisors LLC acquired a new stake in Sierra Bancorp during the 2nd quarter worth approximately $203,000. Mackay Shields LLC raised its holdings in Sierra Bancorp by 24.4% during the 2nd quarter. Mackay Shields LLC now owns 11,231 shares of the financial services provider’s stock worth $318,000 after buying an additional 2,200 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Sierra Bancorp during the 2nd quarter worth approximately $481,000. Hedge funds and other institutional investors own 51.45% of the company’s stock.
NASDAQ BSRR opened at $26.69 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. Sierra Bancorp has a 12-month low of $25.42 and a 12-month high of $31.18. The company has a market capitalization of $407.30 million, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61.
Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). Sierra Bancorp had a net margin of 21.44% and a return on equity of 11.03%. The business had revenue of $29.50 million during the quarter, compared to analyst estimates of $28.75 million. On average, analysts predict that Sierra Bancorp will post 1.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a $0.16 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.40%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 41.29%.
In other news, Director James C. Holly sold 2,500 shares of Sierra Bancorp stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $28.27, for a total value of $70,675.00. Following the sale, the director now directly owns 390,676 shares in the company, valued at $11,044,410.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.21% of the stock is owned by company insiders.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BidaskClub downgraded shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Finally, Sandler O’Neill upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.25.
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Sierra Bancorp Company Profile
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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.
Further Reading: Compound Interest
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