Wells Fargo & Company MN held its stake in Sierra Bancorp (NASDAQ:BSRR) during the first quarter, Holdings Channel reports. The institutional investor owned 8,125 shares of the financial services provider’s stock at the end of the first quarter. Wells Fargo & Company MN’s holdings in Sierra Bancorp were worth $223,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,300 shares during the period. FMR LLC acquired a new stake in Sierra Bancorp during the fourth quarter worth $6,293,000. State Street Corp raised its stake in Sierra Bancorp by 3.0% in the fourth quarter. State Street Corp now owns 202,875 shares of the financial services provider’s stock worth $5,395,000 after buying an additional 5,853 shares during the period. Dimensional Fund Advisors LP raised its stake in Sierra Bancorp by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 827,845 shares of the financial services provider’s stock worth $22,012,000 after buying an additional 36,403 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Sierra Bancorp during the fourth quarter worth $213,000. 54.07% of the stock is owned by institutional investors.
Shares of Sierra Bancorp (NASDAQ BSRR) opened at 23.81 on Friday. The company has a 50-day moving average of $24.64 and a 200-day moving average of $26.15. Sierra Bancorp has a 1-year low of $16.98 and a 1-year high of $29.50. The stock has a market capitalization of $329.32 million, a price-to-earnings ratio of 18.19 and a beta of 0.85.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.02. Sierra Bancorp had a return on equity of 8.79% and a net margin of 19.99%. The company had revenue of $22.02 million for the quarter, compared to analyst estimates of $22.35 million. On average, equities research analysts expect that Sierra Bancorp will post $1.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, August 1st. Sierra Bancorp’s dividend payout ratio is presently 42.75%.
BSRR has been the subject of a number of research reports. DA Davidson raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, May 23rd. Zacks Investment Research raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, July 11th. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Sierra Bancorp in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Sierra Bancorp presently has a consensus rating of “Buy” and an average target price of $26.88.
In related news, Director Robb Evans acquired 1,000 shares of the stock in a transaction dated Friday, April 28th. The stock was acquired at an average cost of $25.39 per share, with a total value of $25,390.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $380,850. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 15.24% of the company’s stock.
About Sierra Bancorp
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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