Jupiter Topco LLC Invests $17.86 Million in Sierra Bancorp $BSRR

Jupiter Topco LLC purchased a new position in shares of Sierra Bancorp (NASDAQ:BSRR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 438,288 shares of the financial services provider’s stock, valued at approximately $17,865,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kintayl Capital LP acquired a new stake in shares of Sierra Bancorp during the 2nd quarter worth about $1,354,000. Canada Pension Plan Investment Board acquired a new stake in shares of Sierra Bancorp during the second quarter worth about $285,000. Legal & General Group Plc acquired a new stake in shares of Sierra Bancorp during the second quarter worth about $45,000. The Manufacturers Life Insurance Company purchased a new position in shares of Sierra Bancorp in the second quarter valued at approximately $14,576,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sierra Bancorp in the second quarter valued at approximately $1,420,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSRR has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Piper Sandler dropped their price target on shares of 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.67.

Sierra Bancorp Stock Up 0.0%

Shares of NASDAQ:BSRR opened at $39.84 on Friday. Sierra Bancorp has a fifty-two week low of $26.49 and a fifty-two week high of $43.13. The firm’s 50 day moving average price is $40.76 and its 200 day moving average price is $37.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $516.33 million, a price-to-earnings ratio of 11.65 and a beta of 0.77.

Sierra Bancorp (NASDAQ:BSRR) last posted 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 return on equity of 12.38% and a net margin of 22.37%.The firm had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. As a group, equities research analysts predict that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $0.27 per share. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.08 annualized dividend and a dividend yield of 2.7%. 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.