Private Management Group Inc. cut its stake in Sierra Bancorp (NASDAQ:BSRR) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,938 shares of the financial services provider’s stock after selling 7,309 shares during the quarter. Private Management Group Inc.’s holdings in Sierra Bancorp were worth $11,207,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Ford Financial Group Inc. acquired a new position in Sierra Bancorp in the fourth quarter valued at approximately $106,000. Martingale Asset Management L P lifted its holdings in Sierra Bancorp by 31.5% in the fourth quarter. Martingale Asset Management L P now owns 80,528 shares of the financial services provider’s stock valued at $2,139,000 after acquiring an additional 19,303 shares during the period. Virtu Financial LLC acquired a new position in Sierra Bancorp in the fourth quarter valued at approximately $215,000. Penn Capital Management Co. Inc. acquired a new position in Sierra Bancorp in the fourth quarter valued at approximately $692,000. Finally, BlackRock Inc. lifted its holdings in Sierra Bancorp by 1.2% in the fourth quarter. BlackRock Inc. now owns 807,836 shares of the financial services provider’s stock valued at $21,456,000 after acquiring an additional 9,322 shares during the period. 49.85% of the stock is owned by institutional investors.
Sierra Bancorp (NASDAQ:BSRR) opened at $26.93 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $409.96, a P/E ratio of 17.49, a PEG ratio of 1.70 and a beta of 0.75. Sierra Bancorp has a 52 week low of $23.10 and a 52 week high of $29.50.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.38%. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, January 31st. Sierra Bancorp’s dividend payout ratio is presently 47.06%.
In other news, Director Robb Evans purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $27.76 per share, for a total transaction of $27,760.00. Following the completion of the transaction, the director now owns 16,200 shares of the company’s stock, valued at $449,712. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gordon T. Woods sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $28.50, for a total value of $85,500.00. The disclosure for this sale can be found here. Corporate insiders own 20.77% of the company’s stock.
A number of brokerages have issued reports on BSRR. FIG Partners began coverage on Sierra Bancorp in a report on Thursday, December 21st. They issued a “market-perform” rating and a $30.00 price target for the company. Hovde Group raised Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Wednesday, February 14th. BidaskClub raised Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 10th. Zacks Investment Research downgraded Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, ValuEngine downgraded Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.17.
About Sierra Bancorp
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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