8,675 Shares in Sierra Bancorp $BSRR Bought by Invesco Ltd.

Key Points

• Invesco Ltd. made a new investment in Sierra Bancorp, acquiring 8,675 shares valued at approximately $242,000, representing about 0.06% of the company.
• Insider selling included EVP Michael Olague and Director Julie G. Castle, who sold 9,193 and 976 shares respectively, leading to a significant decrease in their holdings.
• Sierra Bancorp recently announced a quarterly dividend of $0.25 per share, translating to an annual yield of 3.3% for shareholders.

Invesco Ltd. acquired a new position in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,675 shares of the financial services provider's stock, valued at approximately $242,000. Invesco Ltd. owned about 0.06% of Sierra Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSRR. Voya Investment Management LLC acquired a new stake in Sierra Bancorp during the fourth quarter worth about $291,000. BNP Paribas Financial Markets increased its position in shares of Sierra Bancorp by 8.3% during the fourth quarter. BNP Paribas Financial Markets now owns 12,547 shares of the financial services provider's stock valued at $363,000 after acquiring an additional 966 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sierra Bancorp by 49.5% in the fourth quarter. Bank of America Corp DE now owns 18,109 shares of the financial services provider's stock valued at $524,000 after purchasing an additional 5,998 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Sierra Bancorp by 98.6% in the fourth quarter. Deutsche Bank AG now owns 9,386 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 4,659 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Sierra Bancorp by 26.5% in the fourth quarter. Lazard Asset Management LLC now owns 9,871 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 2,065 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael Olague sold 9,193 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $28.41, for a total value of $261,173.13. Following the completion of the transaction, the executive vice president owned 8,809 shares in the company, valued at approximately $250,263.69. This represents a 51.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Julie G. Castle sold 976 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the completion of the transaction, the director owned 3,181 shares of the company's stock, valued at approximately $93,044.25. The trade was a 23.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,169 shares of company stock worth $529,844. Corporate insiders own 11.86% of the company's stock.

Sierra Bancorp Stock Down 2.0%

NASDAQ BSRR traded down $0.60 on Friday, hitting $30.00. 25,472 shares of the stock were exchanged, compared to its average volume of 22,070. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.24. Sierra Bancorp has a fifty-two week low of $22.42 and a fifty-two week high of $35.13. The company has a market cap of $407.70 million, a PE ratio of 10.38 and a beta of 0.81. The company has a 50-day moving average price of $30.19 and a 200-day moving average price of $28.58.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Sierra Bancorp had a net margin of 20.09% and a return on equity of 11.44%. The company had revenue of $39.21 million during the quarter, compared to analysts' expectations of $38.47 million. Sell-side analysts anticipate that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a $0.25 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. Sierra Bancorp's dividend payout ratio is presently 34.60%.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Sierra Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Sierra Bancorp currently has a consensus rating of "Hold" and an average target price of $33.50.

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.