Foundry Partners LLC Cuts Sierra Bancorp (NASDAQ:BSRR) Stake

Foundry Partners LLC lowered its position in shares of Sierra Bancorp (NASDAQ:BSRR – Free Report) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 148,490 shares of the financial services provider’s stock after selling 1,925 shares during the quarter. Foundry Partners LLC owned about 1.02% of Sierra Bancorp worth $3,323,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in Sierra Bancorp by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after buying an additional 957 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Sierra Bancorp in the first quarter valued at approximately $94,000. Panagora Asset Management Inc. boosted its holdings in shares of Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 904 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Sierra Bancorp during the 4th quarter valued at approximately $280,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Sierra Bancorp by 118.2% during the 4th quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock worth $343,000 after which acquired an additional 8,243 shares in the last quarter. 55.40% of the shares are owned by hedge funds and other institutional investors.

Insider buying and selling

In related news, EVP Michael Olague sold 11,660 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.45, for a total value of $331,727.00. Following the transaction, the executive vice president now owns 25,132 shares of the company’s stock, valued at $715,005.40. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. In other Sierra Bancorp news, EVP Michael Olague sold 11,660 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.45, for a total transaction of $331,727.00. Following the sale, the executive vice president now owns 25,132 shares in the company, valued at approximately $715,005.40. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, Director Morris A. Tharp sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total transaction of $292,600.00. Following the sale, the director now owns 475,060 shares in the company, valued at approximately $13,900,255.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,366 shares of company stock worth $1,370,158. 11.86% of shares are owned by insiders.

The Wall Street analyst weighs in

BSRR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Janney Montgomery Scott downgraded shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th.

Check out our latest report on BSRR

Sierra Bancorp Stock Performance

BSRR opened at $28.95 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76, and a debt-to-equity ratio of 0.24. The company has a market cap of $422.55 million, a price-to-earnings ratio of 11.96 and a beta of 0.91. The company’s 50-day moving average is $27.18 and its 200-day moving average is $22.44. Sierra Bancorp has a 12-month low of $16.75 and a 12-month high of $31.85.

Sierra Bancorp (NASDAQ:BSRR – Get Your Free Report ) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $51.13 million for the quarter, compared to the consensus estimate of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%. On average, equities research analysts predict that Sierra Bancorp will post 2.76 EPS for the current year.

Sierra Bancorp raises dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.24 dividend. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 31. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 3.32%. Sierra Bancorp’s dividend payout ratio (DPR) is currently 38.02%.

Sierra Bancorp Profile

(Free report)

Sierra Bancorp operates as the bank holding company for Bank of the Sierra providing commercial and retail banking services to individuals and businesses in California. It accepts various deposit products such as checking accounts, savings accounts, demand money market accounts, time deposits, retirement accounts and checking accounts.

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