Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,730 shares of the financial services provider's stock after purchasing an additional 10,489 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Sierra Bancorp worth $1,062,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in shares of Sierra Bancorp in the third quarter valued at approximately $216,000. Barclays PLC raised its holdings in Sierra Bancorp by 301.7% in the 3rd quarter. Barclays PLC now owns 16,896 shares of the financial services provider's stock valued at $488,000 after acquiring an additional 12,690 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sierra Bancorp by 40.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 65,858 shares of the financial services provider's stock valued at $1,902,000 after acquiring an additional 19,025 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Sierra Bancorp during the 4th quarter worth $385,000. Finally, Jane Street Group LLC increased its position in shares of Sierra Bancorp by 9.7% in the third quarter. Jane Street Group LLC now owns 16,827 shares of the financial services provider's stock worth $486,000 after purchasing an additional 1,484 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.
Sierra Bancorp Price Performance
Shares of BSRR stock traded up $0.93 on Monday, hitting $29.46. 44,169 shares of the company's stock were exchanged, compared to its average volume of 36,577. The company has a 50 day moving average of $29.82 and a 200 day moving average of $29.76. The stock has a market cap of $411.38 million, a P/E ratio of 10.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79. Sierra Bancorp has a 12 month low of $17.70 and a 12 month high of $35.13.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.72 EPS for the quarter, hitting analysts' consensus estimates of $0.72. Sierra Bancorp had a net margin of 19.90% and a return on equity of 11.55%. On average, equities research analysts predict that Sierra Bancorp will post 2.95 EPS for the current year.
Sierra Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Sierra Bancorp's previous quarterly dividend of $0.24. Sierra Bancorp's dividend payout ratio (DPR) is currently 35.59%.
Insiders Place Their Bets
In related news, EVP Michael Olague sold 3,563 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $31.15, for a total transaction of $110,987.45. Following the sale, the executive vice president now owns 12,409 shares in the company, valued at $386,540.35. The trade was a 22.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julie G. Castle sold 1,104 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now owns 4,157 shares of the company's stock, valued at $133,024. This represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,393 shares of company stock valued at $166,994. 11.86% of the stock is currently owned by insiders.
Analyst Ratings Changes
BSRR has been the subject of several recent analyst reports. StockNews.com cut shares of Sierra Bancorp from a "buy" rating to a "hold" rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of Sierra Bancorp from $30.00 to $35.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.
Read Our Latest Report on BSRR
Sierra Bancorp Company Profile
(
Free Report)
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.
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