TIAA CREF Investment Management LLC decreased its holdings in shares of Sierra Bancorp (NASDAQ:BSRR) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,845 shares of the financial services provider’s stock after selling 1,578 shares during the quarter. TIAA CREF Investment Management LLC owned 0.18% of Sierra Bancorp worth $805,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of Montreal Can boosted its holdings in Sierra Bancorp by 5,069.0% in the third quarter. Bank of Montreal Can now owns 5,169 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 5,069 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in shares of Sierra Bancorp by 63.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 9,574 shares of the financial services provider’s stock worth $277,000 after buying an additional 3,733 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Sierra Bancorp during the 3rd quarter worth approximately $504,000. First Trust Advisors LP boosted its holdings in shares of Sierra Bancorp by 28.3% during the 3rd quarter. First Trust Advisors LP now owns 43,408 shares of the financial services provider’s stock worth $1,254,000 after buying an additional 9,571 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Sierra Bancorp during the 3rd quarter worth approximately $1,817,000. 52.11% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on BSRR. Zacks Investment Research cut Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Monday, December 31st. BidaskClub upgraded Sierra Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Hovde Group reiterated a “buy” rating on shares of Sierra Bancorp in a report on Monday, January 28th.
In related news, Director Robb Evans purchased 1,000 shares of the stock in a transaction that occurred on Thursday, January 31st. The stock was acquired at an average cost of $26.79 per share, with a total value of $26,790.00. Following the transaction, the director now owns 19,000 shares of the company’s stock, valued at approximately $509,010. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Mcphaill sold 15,000 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $27.27, for a total value of $409,050.00. Following the completion of the sale, the chief executive officer now directly owns 23,076 shares of the company’s stock, valued at $629,282.52. The disclosure for this sale can be found here. Corporate insiders own 10.21% of the company’s stock.
Shares of BSRR traded down $0.08 during trading hours on Friday, reaching $27.22. The stock had a trading volume of 3,784 shares, compared to its average volume of 25,286. Sierra Bancorp has a 12 month low of $22.93 and a 12 month high of $31.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13. The stock has a market cap of $414.64 million, a P/E ratio of 14.18, a P/E/G ratio of 1.58 and a beta of 0.88.
Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Tuesday, January 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $29.32 million during the quarter, compared to the consensus estimate of $29.53 million. Sierra Bancorp had a return on equity of 11.43% and a net margin of 24.09%. On average, analysts expect that Sierra Bancorp will post 2.15 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, January 31st were given a $0.18 dividend. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, January 30th. Sierra Bancorp’s dividend payout ratio is presently 37.50%.
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. 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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