Academy Capital Management Invests $1.36 Million in Sierra Bancorp $BSRR

Key Points

• Academy Capital Management acquired 34,720 Sierra Bancorp shares worth approximately $1.36 million, giving it a 0.27% stake. Institutional investors collectively own 55.4% of BSRR.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and three rate it Hold, producing an overall “Hold” consensus and an average price target of $38.67.
• Sierra Bancorp reported quarterly EPS of $0.77, below the $0.89 consensus estimate, while revenue also slightly missed expectations. The company raised its quarterly dividend to $0.27, implying a 2.7% annualized yield.

Academy Capital Management acquired a new stake in Sierra Bancorp (NASDAQ:BSRR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,720 shares of the financial services provider's stock, valued at approximately $1,365,000. Sierra Bancorp accounts for about 0.2% of Academy Capital Management's holdings, making the stock its 23rd biggest position. Academy Capital Management owned about 0.27% of Sierra Bancorp at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BSRR. Raymond James Financial Inc. bought a new position in shares of Sierra Bancorp during the 2nd quarter valued at about $26,000. Russell Investments Group Ltd. raised its holdings in shares of Sierra Bancorp by 3,714.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider's stock worth $31,000 after purchasing an additional 1,040 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Sierra Bancorp by 57.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider's stock worth $67,000 after purchasing an additional 829 shares in the last quarter. Deutsche Bank AG acquired a new stake in Sierra Bancorp during the second quarter valued at approximately $76,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Sierra Bancorp during the second quarter valued at approximately $82,000. Institutional investors own 55.40% of the company's stock.

Wall Street Analysts Forecast Growth

BSRR has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Sierra Bancorp in a research report on Wednesday, June 24th. DA Davidson restated a "buy" rating and issued a $44.00 target price on shares of Sierra Bancorp in a report on Tuesday, April 28th. Finally, Piper Sandler decreased their target price on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.67.

Sierra Bancorp Stock Performance

Sierra Bancorp stock opened at $39.92 on Friday. The firm's 50 day simple moving average is $40.76 and its 200-day simple moving average is $37.88. The company has a market cap of $517.36 million, a P/E ratio of 11.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Sierra Bancorp has a fifty-two week low of $26.49 and a fifty-two week high of $43.13.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.12). The firm had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. Sierra Bancorp had a net margin of 22.37% and a return on equity of 12.38%. As a group, equities research analysts predict that Sierra Bancorp will post 3.55 EPS for the current year.

Sierra Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. 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. Sierra Bancorp's dividend payout ratio (DPR) is 31.58%.

Insider Activity at Sierra Bancorp

In other news, EVP Hugh F. Boyle sold 10,000 shares of the business's stock in a transaction on 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 in the company, valued at approximately $832,252.01. The trade was a 31.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.83% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source