Connor Clark & Lunn Investment Management Ltd. Purchases 12,077 Shares of Sierra Bancorp (NASDAQ:BSRR)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 85.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,241 shares of the financial services provider’s stock after buying an additional 12,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Sierra Bancorp worth $758,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its stake in shares of Sierra Bancorp by 45.7% during the first 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 in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Sierra Bancorp by 8.2% in 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 period. Segall Bryant & Hamill LLC purchased a new stake in shares of Sierra Bancorp during the 3rd quarter worth $1,146,000. Vanguard Group Inc. boosted its position in Sierra Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock valued at $13,737,000 after purchasing an additional 5,830 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Sierra Bancorp by 24.0% in the third quarter. Assenagon Asset Management S.A. now owns 74,000 shares of the financial services provider’s stock valued at $2,137,000 after purchasing an additional 14,335 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $31.61 on Friday. Sierra Bancorp has a 12-month low of $17.69 and a 12-month high of $35.13. The business’s fifty day simple moving average is $29.70 and its 200-day simple moving average is $26.69. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The company has a market cap of $454.87 million, a PE ratio of 12.54 and a beta of 0.89.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. The company had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $38.30 million. Analysts expect that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Sierra Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, October 31st. Sierra Bancorp’s dividend payout ratio is presently 38.10%.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.98, for a total transaction of $144,900.00. Following the sale, the director now owns 313,370 shares in the company, valued at approximately $9,081,462.60. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert L. Berra sold 2,540 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the completion of the transaction, the director now directly owns 150,063 shares in the company, valued at $4,838,031.12. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,056 shares of company stock worth $244,741. 11.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 16th.

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.