Strs Ohio Invests $282,000 in Sierra Bancorp $BSRR

Key Points

• Strs Ohio has invested approximately $282,000 in Sierra Bancorp by acquiring 10,100 shares, representing around 0.07% of the company's outstanding stock.
• Several institutional investors significantly increased their stakes in Sierra Bancorp during the fourth quarter, with Millennium Management LLC raising its holdings by 301.4% to own 37,858 shares valued at about $1,095,000.
• Sierra Bancorp recently reported $0.78 earnings per share for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.25 per share.

Strs Ohio purchased a new position in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,100 shares of the financial services provider's stock, valued at approximately $282,000. Strs Ohio owned approximately 0.07% of Sierra Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of BSRR. BNP Paribas Financial Markets increased its holdings 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 worth $363,000 after buying an additional 966 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Sierra Bancorp by 49.5% during the fourth quarter. Bank of America Corp DE now owns 18,109 shares of the financial services provider's stock worth $524,000 after buying an additional 5,998 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Sierra Bancorp by 98.6% during the fourth quarter. Deutsche Bank AG now owns 9,386 shares of the financial services provider's stock worth $271,000 after buying an additional 4,659 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Sierra Bancorp by 301.4% during the fourth quarter. Millennium Management LLC now owns 37,858 shares of the financial services provider's stock worth $1,095,000 after buying an additional 28,426 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Sierra Bancorp during the fourth quarter worth $458,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sierra Bancorp

In related news, EVP Michael Olague sold 9,193 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $28.41, for a total value of $261,173.13. Following the transaction, the executive vice president owned 8,809 shares of the company's stock, valued at approximately $250,263.69. This trade represents a 51.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynda Scearcy sold 4,297 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $30.02, for a total transaction of $128,995.94. Following the completion of the transaction, the director directly owned 31,233 shares in the company, valued at approximately $937,614.66. The trade was a 12.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,169 shares of company stock valued at $529,844. 11.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Zacks Research downgraded 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 issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.50.

Sierra Bancorp Price Performance

BSRR stock opened at $29.91 on Wednesday. The stock has a market capitalization of $406.48 million, a PE ratio of 10.35 and a beta of 0.81. The company's 50-day moving average is $30.00 and its 200-day moving average is $28.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.78 and a quick ratio of 0.78. Sierra Bancorp has a 1 year low of $22.42 and a 1 year high of $35.13.

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

Sierra Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.00 annualized dividend and a yield of 3.3%. Sierra Bancorp's dividend payout ratio (DPR) is presently 34.60%.

About Sierra Bancorp

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.

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