82,101 Shares in Sierra Bancorp $BSRR Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 82,101 Sierra Bancorp shares worth approximately $3.35 million, joining several other institutions that recently initiated positions. Institutional investors now own 55.4% of BSRR.
• Analyst sentiment remains cautious: Sierra Bancorp has a consensus “Hold” rating and a $38.67 price target after Piper Sandler lowered its target to $39.00.
• Sierra Bancorp reported quarterly EPS of $0.77, below the $0.89 consensus estimate, while revenue also missed forecasts. The company raised its quarterly dividend to $0.27, equivalent to a 2.7% annual yield.

Empowered Funds LLC bought a new stake in Sierra Bancorp (NASDAQ:BSRR - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 82,101 shares of the financial services provider's stock, valued at approximately $3,346,000. Empowered Funds LLC owned about 0.63% of Sierra Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BSRR. BlackRock Inc. bought a new stake in Sierra Bancorp during the second quarter valued at about $53,249,000. Jupiter Topco LLC bought a new position in shares of Sierra Bancorp in the second quarter worth about $17,865,000. The Manufacturers Life Insurance Company bought a new position in shares of Sierra Bancorp in the second quarter worth about $14,576,000. Janus Henderson Group PLC bought a new position in shares of Sierra Bancorp in the fourth quarter worth about $8,465,000. Finally, Basswood Capital Management L.L.C. acquired a new position in shares of Sierra Bancorp during the 2nd quarter worth about $7,503,000. Institutional investors own 55.40% of the company's stock.

Analysts Set New Price Targets

BSRR has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Piper Sandler cut their price target on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $38.67.

Sierra Bancorp Stock Performance

NASDAQ BSRR opened at $39.42 on Wednesday. The company's fifty day moving average is $40.75 and its two-hundred day moving average is $38.00. Sierra Bancorp has a 52-week low of $26.49 and a 52-week high of $43.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $510.88 million, a price-to-earnings ratio of 11.53 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.12). Sierra Bancorp had a net margin of 22.37% and a return on equity of 12.38%. The company had revenue of $38.98 million for the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $0.27 dividend. This is a positive change from Sierra Bancorp's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.08 annualized dividend and a yield of 2.7%. 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.

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