Foundry Partners LLC Cuts Stake in Sierra Bancorp (NASDAQ:BSRR)

Foundry Partners LLC trimmed its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 148,490 shares of the financial services provider’s stock after selling 1,925 shares during the quarter. Foundry Partners LLC owned about 1.02% of Sierra Bancorp worth $3,323,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in Sierra Bancorp by 45.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 957 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Sierra Bancorp during the 1st quarter valued at about $94,000. Panagora Asset Management Inc. boosted its holdings in shares of Sierra Bancorp by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 904 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Sierra Bancorp during the 4th quarter valued at about $280,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Sierra Bancorp by 118.2% during the 4th quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 8,243 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael Olague sold 11,660 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.45, for a total value of $331,727.00. Following the transaction, the executive vice president now owns 25,132 shares of the company’s stock, valued at $715,005.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sierra Bancorp news, EVP Michael Olague sold 11,660 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.45, for a total transaction of $331,727.00. Following the sale, the executive vice president now owns 25,132 shares in the company, valued at approximately $715,005.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Morris A. Tharp sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total transaction of $292,600.00. Following the sale, the director now owns 475,060 shares in the company, valued at approximately $13,900,255.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,366 shares of company stock valued at $1,370,158. 11.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BSRR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Janney Montgomery Scott downgraded shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th.

Sierra Bancorp Stock Performance

BSRR opened at $28.95 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.24. The company has a market cap of $422.55 million, a price-to-earnings ratio of 11.96 and a beta of 0.91. The company’s 50 day moving average is $27.18 and its 200 day moving average is $22.44. Sierra Bancorp has a 12-month low of $16.75 and a 12-month high of $31.85.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $51.13 million for the quarter, compared to the consensus estimate of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%. On average, equities research analysts predict that Sierra Bancorp will post 2.76 EPS for the current year.

Sierra Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.24 dividend. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 38.02%.

Sierra Bancorp 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.