Assenagon Asset Management S.A. Sells 51,771 Shares of Sierra Bancorp (NASDAQ:BSRR)

Assenagon Asset Management S.A. reduced its position in Sierra Bancorp (NASDAQ:BSRRGet Rating) by 77.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,365 shares of the financial services provider’s stock after selling 51,771 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Sierra Bancorp worth $303,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Sierra Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 675,658 shares of the financial services provider’s stock valued at $16,878,000 after purchasing an additional 4,752 shares during the last quarter. Private Management Group Inc. raised its position in shares of Sierra Bancorp by 1.2% in the 2nd quarter. Private Management Group Inc. now owns 527,083 shares of the financial services provider’s stock valued at $11,454,000 after purchasing an additional 6,472 shares during the last quarter. State Street Corp raised its position in shares of Sierra Bancorp by 3.7% in the 2nd quarter. State Street Corp now owns 304,881 shares of the financial services provider’s stock valued at $6,625,000 after purchasing an additional 11,012 shares during the last quarter. Foundry Partners LLC raised its position in shares of Sierra Bancorp by 1.4% in the 3rd quarter. Foundry Partners LLC now owns 180,015 shares of the financial services provider’s stock valued at $3,555,000 after purchasing an additional 2,530 shares during the last quarter. Finally, Banc Funds Co. LLC raised its position in shares of Sierra Bancorp by 2.0% in the 2nd quarter. Banc Funds Co. LLC now owns 161,544 shares of the financial services provider’s stock valued at $3,510,000 after purchasing an additional 3,190 shares during the last quarter. 52.39% of the stock is currently owned by institutional investors.

Insider Activity at Sierra Bancorp

In related news, Director Michele M. Gil purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $21.36 per share, with a total value of $42,720.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at $42,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michele M. Gil purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $21.36 per share, with a total value of $42,720.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at $42,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Holly sold 5,000 shares of Sierra Bancorp stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $22.14, for a total transaction of $110,700.00. Following the completion of the sale, the director now directly owns 345,870 shares in the company, valued at approximately $7,657,561.80. The disclosure for this sale can be found here. 11.63% of the stock is owned by corporate insiders.

Sierra Bancorp Price Performance

NASDAQ:BSRR opened at $21.31 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $321.55 million, a price-to-earnings ratio of 8.92 and a beta of 0.96. The company has a 50 day moving average price of $21.53 and a 200-day moving average price of $21.41. Sierra Bancorp has a 1-year low of $19.62 and a 1-year high of $28.34.

Sierra Bancorp (NASDAQ:BSRRGet Rating) last posted its earnings results on Monday, October 24th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $35.52 million for the quarter, compared to analysts’ expectations of $33.67 million. Sierra Bancorp had a net margin of 25.06% and a return on equity of 11.28%. Equities research analysts forecast that Sierra Bancorp will post 2.49 EPS for the current year.

Sierra Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.92 dividend on an annualized basis and a yield of 4.32%. Sierra Bancorp’s dividend payout ratio is currently 38.49%.

Analyst Ratings Changes

A number of research firms have issued reports on BSRR. Keefe, Bruyette & Woods lowered shares of Sierra Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $26.00 to $24.00 in a research report on Monday, November 14th. Piper Sandler reduced their price target on shares of Sierra Bancorp to $21.50 in a research report on Friday, September 30th. Finally, StockNews.com lowered shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th.

Sierra Bancorp Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Sierra Bancorp (NASDAQ:BSRR)

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