California Public Employees Retirement System Sells 16,800 Shares of Sierra Bancorp (NASDAQ:BSRR)

California Public Employees Retirement System cut its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 28.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,138 shares of the financial services provider’s stock after selling 16,800 shares during the period. California Public Employees Retirement System’s holdings in Sierra Bancorp were worth $1,156,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. FMR LLC boosted its stake in Sierra Bancorp by 64.3% in the first quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock worth $10,667,000 after buying an additional 152,200 shares during the last quarter. Wellington Management Group LLP boosted its stake in Sierra Bancorp by 143.4% in the first quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock worth $20,811,000 after buying an additional 446,962 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Sierra Bancorp by 206.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,580 shares of the financial services provider’s stock worth $894,000 after buying an additional 21,941 shares during the last quarter. American International Group Inc. boosted its stake in Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock worth $197,000 after buying an additional 478 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in Sierra Bancorp by 17.7% in the first quarter. Martingale Asset Management L P now owns 99,035 shares of the financial services provider’s stock worth $2,717,000 after buying an additional 14,903 shares during the last quarter. Institutional investors own 54.23% of the company’s stock.

Shares of Sierra Bancorp (NASDAQ:BSRR) opened at 25.0382 on Thursday. The company’s 50 day moving average is $25.17 and its 200-day moving average is $26.16. The company has a market capitalization of $346.48 million, a PE ratio of 18.1568 and a beta of 0.86. Sierra Bancorp has a 52 week low of $17.25 and a 52 week high of $29.50.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $23.20 million for the quarter, compared to analyst estimates of $22.80 million. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. On average, analysts expect that Sierra Bancorp will post $1.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, August 1st. Sierra Bancorp’s dividend payout ratio is currently 40.88%.

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A number of research firms have issued reports on BSRR. BidaskClub upgraded Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Hovde Group raised their target price on Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a research note on Friday, July 28th. ValuEngine cut Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. upgraded shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $27.00 price objective on shares of Sierra Bancorp in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.75.

In other Sierra Bancorp news, Director Robert L. Fields sold 9,600 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.14, for a total value of $260,544.00. Following the transaction, the director now owns 412,543 shares of the company’s stock, valued at $11,196,417.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert L. Fields sold 2,465 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total value of $66,875.45. Following the completion of the transaction, the director now directly owns 410,078 shares in the company, valued at approximately $11,125,416.14. The disclosure for this sale can be found here. In the last three months, insiders sold 12,165 shares of company stock worth $330,119. Insiders own 15.24% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.

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Institutional Ownership by Quarter for Sierra Bancorp (NASDAQ:BSRR)

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