Private Management Group Inc. Has $17.69 Million Holdings in Sierra Bancorp $BSRR

Private Management Group Inc. cut its stake in Sierra Bancorp (NASDAQ:BSRR) by 17.2% in the second quarter, Holdings Channel.com reports. The firm owned 434,075 shares of the financial services provider’s stock after selling 90,149 shares during the period. Private Management Group Inc.’s holdings in Sierra Bancorp were worth $17,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Sierra Bancorp during the 2nd quarter worth about $249,473,000. Vanguard Group Inc. raised its holdings in Sierra Bancorp by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 733,567 shares of the financial services provider’s stock valued at $21,207,000 after acquiring an additional 22,931 shares in the last quarter. Jupiter Topco LLC acquired a new position in Sierra Bancorp in the 2nd quarter valued at approximately $17,865,000. Polar Asset Management Partners Inc. bought a new stake in shares of Sierra Bancorp in the 2nd quarter worth approximately $15,678,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Sierra Bancorp in the 2nd quarter worth approximately $14,576,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BSRR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a report on Wednesday, June 24th. Piper Sandler cut their target price on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Sierra Bancorp Stock Up 0.0%

NASDAQ BSRR opened at $39.84 on Friday. Sierra Bancorp has a 1-year low of $26.49 and a 1-year high of $43.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $40.76 and its two-hundred day moving average is $37.95. The company has a market capitalization of $516.33 million, a price-to-earnings ratio of 11.65 and a beta of 0.77.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $39.59 million. Equities analysts forecast that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $0.27 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.08 annualized dividend and a dividend yield of 2.7%. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.26. Sierra Bancorp’s dividend payout ratio is presently 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.