Foundry Partners LLC Increases Stock Holdings in Sierra Bancorp (NASDAQ:BSRR)

Foundry Partners LLC increased its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 19.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 176,985 shares of the financial services provider’s stock after purchasing an additional 28,495 shares during the quarter. Foundry Partners LLC owned 1.25% of Sierra Bancorp worth $5,111,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in Sierra Bancorp during the third quarter valued at about $29,000. Lazard Asset Management LLC lifted 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 worth $61,000 after purchasing an additional 957 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Sierra Bancorp during the 1st quarter worth $94,000. SG Americas Securities LLC bought a new stake in shares of Sierra Bancorp during the 3rd quarter worth $142,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Sierra Bancorp by 8.2% in the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after buying an additional 904 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 16th.

Sierra Bancorp Price Performance

NASDAQ BSRR opened at $31.72 on Friday. Sierra Bancorp has a fifty-two week low of $17.69 and a fifty-two week high of $35.13. The stock’s 50-day moving average is $29.47 and its two-hundred day moving average is $26.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $456.45 million, a P/E ratio of 12.59 and a beta of 0.89.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. The company had revenue of $52.59 million for the quarter, compared to the consensus estimate of $38.30 million. On average, analysts anticipate that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, October 31st. Sierra Bancorp’s payout ratio is 38.10%.

Insider Buying and Selling at Sierra Bancorp

In other news, Director Albert L. Berra sold 2,540 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the sale, the director now directly owns 150,063 shares of the company’s stock, valued at approximately $4,838,031.12. This represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Holly sold 5,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.98, for a total transaction of $144,900.00. Following the completion of the transaction, the director now directly owns 313,370 shares in the company, valued at approximately $9,081,462.60. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,056 shares of company stock worth $244,741. Insiders own 11.86% of the company’s stock.

Sierra Bancorp Company 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.