Sierra Bancorp (NASDAQ:BSRR) Shares Bought by State Street Corp

State Street Corp grew its position in Sierra Bancorp (NASDAQ:BSRR) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 321,257 shares of the financial services provider’s stock after purchasing an additional 11,095 shares during the period. State Street Corp owned approximately 2.23% of Sierra Bancorp worth $9,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BSRR. Private Management Group Inc. increased its holdings in Sierra Bancorp by 1.2% in the 2nd quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock worth $14,707,000 after buying an additional 7,515 shares during the period. FMR LLC boosted its holdings in shares of Sierra Bancorp by 12.5% in the 3rd quarter. FMR LLC now owns 194,573 shares of the financial services provider’s stock valued at $5,619,000 after acquiring an additional 21,558 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Sierra Bancorp by 19.2% in the third quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider’s stock worth $5,111,000 after acquiring an additional 28,495 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Sierra Bancorp by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after purchasing an additional 3,531 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Sierra Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 74,994 shares of the financial services provider’s stock valued at $2,166,000 after purchasing an additional 3,752 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sierra Bancorp

In other news, Director Albert L. Berra sold 2,540 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the sale, the director now directly owns 150,063 shares of the company’s stock, valued at approximately $4,838,031.12. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.98, for a total value of $144,900.00. Following the transaction, the director now owns 313,370 shares in the company, valued at $9,081,462.60. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,056 shares of company stock worth $244,741 in the last 90 days. Insiders own 11.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BSRR. StockNews.com upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Keefe, Bruyette & Woods upped their target price on Sierra Bancorp from $30.00 to $35.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Sierra Bancorp Price Performance

Shares of NASDAQ BSRR opened at $29.85 on Friday. The stock has a market capitalization of $429.66 million, a price-to-earnings ratio of 11.85 and a beta of 0.92. Sierra Bancorp has a 52 week low of $17.69 and a 52 week high of $35.13. The firm has a 50-day simple moving average of $30.50 and a 200-day simple moving average of $28.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.46.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $38.30 million. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. On average, equities analysts predict that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.22%. Sierra Bancorp’s dividend payout ratio (DPR) is 38.10%.

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. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.