JPMorgan Chase & Co. Increases Position in Sierra Bancorp (NASDAQ:BSRR)

JPMorgan Chase & Co. increased its stake in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) by 40.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,858 shares of the financial services provider's stock after buying an additional 19,025 shares during the quarter. JPMorgan Chase & Co. owned about 0.46% of Sierra Bancorp worth $1,902,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in Sierra Bancorp during the 3rd quarter valued at about $216,000. Barclays PLC boosted its position in Sierra Bancorp by 301.7% in the third quarter. Barclays PLC now owns 16,896 shares of the financial services provider's stock valued at $488,000 after buying an additional 12,690 shares during the last quarter. Jane Street Group LLC boosted its position in 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 valued at $486,000 after buying an additional 1,484 shares during the last quarter. FMR LLC increased its holdings in Sierra Bancorp by 12.5% in the 3rd quarter. FMR LLC now owns 194,573 shares of the financial services provider's stock worth $5,619,000 after buying an additional 21,558 shares during the period. Finally, Foundry Partners LLC raised its position in Sierra Bancorp by 19.2% during the 3rd quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider's stock worth $5,111,000 after buying an additional 28,495 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Sierra Bancorp Stock Performance

Shares of BSRR traded up $0.11 during trading hours on Thursday, hitting $29.51. The stock had a trading volume of 35,935 shares, compared to its average volume of 44,280. The firm has a 50-day moving average price of $30.13 and a 200 day moving average price of $29.08. Sierra Bancorp has a fifty-two week low of $17.69 and a fifty-two week high of $35.13. The firm has a market capitalization of $424.65 million, a price-to-earnings ratio of 11.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.79.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Sierra Bancorp had a net margin of 17.91% and a return on equity of 10.48%. The business had revenue of $52.59 million during the quarter, compared to the consensus estimate of $38.30 million. As a group, research analysts anticipate that Sierra Bancorp will post 2.79 EPS for the current year.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $28.98, for a total transaction of $144,900.00. Following the transaction, the director now directly owns 313,370 shares of the company's stock, valued at $9,081,462.60. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Albert L. Berra sold 2,540 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $32.24, for a total transaction of $81,889.60. Following the sale, the director now directly owns 150,063 shares of the company's stock, valued at $4,838,031.12. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,056 shares of company stock valued at $244,741. Company insiders own 11.86% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSRR. StockNews.com raised shares of Sierra Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, November 16th. Keefe, Bruyette & Woods boosted their price objective on Sierra Bancorp from $30.00 to $35.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

Sierra Bancorp 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.