89,267 Shares in Sierra Bancorp $BSRR Acquired by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc acquired a new position in Sierra Bancorp (NASDAQ:BSRR) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 89,267 shares of the financial services provider’s stock, valued at approximately $3,510,000.

Several other large investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in shares of Sierra Bancorp by 2.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 17,871 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 480 shares during the last quarter. Rhumbline Advisers boosted its holdings in Sierra Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock valued at $590,000 after acquiring an additional 527 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Sierra Bancorp by 1.2% in the fourth quarter. Panagora Asset Management Inc. now owns 48,191 shares of the financial services provider’s stock valued at $1,575,000 after acquiring an additional 548 shares during the last quarter. First Trust Advisors LP increased its position in Sierra Bancorp by 1.2% in the second quarter. First Trust Advisors LP now owns 47,970 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 577 shares during the period. Finally, Franklin Resources Inc. increased its position in Sierra Bancorp by 6.9% in the fourth quarter. Franklin Resources Inc. now owns 10,240 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 662 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Insider Activity

In other news, CFO Christopher G. Treece sold 10,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.18, for a total transaction of $381,800.00. Following the completion of the transaction, the chief financial officer directly owned 39,095 shares in the company, valued at approximately $1,492,647.10. The trade was a 20.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Hugh F. Boyle sold 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the sale, the executive vice president directly owned 21,781 shares of the company’s stock, valued at approximately $832,252.01. This trade represents a 31.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BSRR shares. DA Davidson reissued a “buy” rating and set a $44.00 price objective on shares of Sierra Bancorp in a report on Tuesday, April 28th. Piper Sandler reduced their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Sierra Bancorp has a consensus rating of “Hold” and an average price target of $38.67.

Sierra Bancorp Stock Performance

BSRR stock opened at $40.81 on Tuesday. The business’s fifty day moving average is $40.77 and its 200-day moving average is $37.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $528.90 million, a P/E ratio of 11.93 and a beta of 0.77. Sierra Bancorp has a twelve month low of $26.49 and a twelve month high of $43.13.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%.The company had revenue of $38.98 million during the quarter, compared to the consensus estimate of $39.59 million. Equities research analysts forecast that Sierra Bancorp will post 3.55 EPS for the current year.

Sierra Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.6%. Sierra Bancorp’s payout ratio is currently 31.58%.

Sierra Bancorp Company Profile

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.