Zacks Investment Management Sells 61,594 Shares of Sierra Bancorp (NASDAQ:BSRR)

Zacks Investment Management decreased its holdings in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) by 63.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,996 shares of the financial services provider's stock after selling 61,594 shares during the quarter. Zacks Investment Management owned 0.25% of Sierra Bancorp worth $1,041,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. acquired a new position in Sierra Bancorp during the third quarter worth about $216,000. JPMorgan Chase & Co. increased its stake in shares of Sierra Bancorp by 40.6% in the third quarter. JPMorgan Chase & Co. now owns 65,858 shares of the financial services provider's stock valued at $1,902,000 after buying an additional 19,025 shares during the period. Barclays PLC increased its position in Sierra Bancorp by 301.7% during the 3rd quarter. Barclays PLC now owns 16,896 shares of the financial services provider's stock valued at $488,000 after purchasing an additional 12,690 shares during the period. Proficio Capital Partners LLC acquired a new stake in Sierra Bancorp during the 4th quarter valued at approximately $385,000. Finally, Jane Street Group LLC increased its position in Sierra Bancorp by 9.7% during the 3rd quarter. Jane Street Group LLC now owns 16,827 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 1,484 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Sierra Bancorp from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th.

Sierra Bancorp Trading Down 0.1 %

Shares of Sierra Bancorp stock traded down $0.02 on Thursday, reaching $26.44. 1,422 shares of the company's stock were exchanged, compared to its average volume of 38,910. The company has a market capitalization of $365.67 million, a P/E ratio of 9.41 and a beta of 0.76. Sierra Bancorp has a 52 week low of $19.77 and a 52 week high of $35.13. The firm's 50-day moving average is $27.91 and its two-hundred day moving average is $29.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.79.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. Sell-side analysts predict that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Olague sold 3,563 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $31.15, for a total value of $110,987.45. Following the transaction, the executive vice president now directly owns 12,409 shares in the company, valued at $386,540.35. This trade represents a 22.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julie G. Castle sold 1,104 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now owns 4,157 shares in the company, valued at approximately $133,024. This represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,393 shares of company stock worth $166,994 in the last ninety days. Corporate 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.