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

Foundry Partners LLC raised its stake in Sierra Bancorp (NASDAQ:BSRR) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,985 shares of the financial services provider’s stock after acquiring an additional 28,495 shares during the quarter. Foundry Partners LLC’s holdings in Sierra Bancorp were worth $5,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sierra Bancorp by 85.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,241 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 12,077 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Sierra Bancorp during the 3rd quarter worth approximately $1,146,000. Empowered Funds LLC increased its holdings in Sierra Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 74,994 shares of the financial services provider’s stock worth $2,166,000 after acquiring an additional 3,752 shares during the period. Los Angeles Capital Management LLC grew its stake in Sierra Bancorp by 21.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 46,013 shares of the financial services provider’s stock worth $1,329,000 after buying an additional 8,033 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Sierra Bancorp in the 3rd quarter valued at $29,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Sierra Bancorp

In other news, Director Albert L. Berra sold 2,540 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $32.24, for a total transaction of $81,889.60. Following the completion of the sale, the director now owns 150,063 shares of the company’s stock, valued at $4,838,031.12. This represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.98, for a total transaction of $144,900.00. Following the sale, the director now directly owns 313,370 shares of the company’s stock, valued at $9,081,462.60. The trade was a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,056 shares of company stock valued at $244,741 over the last 90 days. Corporate insiders own 11.86% of the company’s stock.

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock opened at $31.72 on Friday. Sierra Bancorp has a 52-week low of $17.69 and a 52-week high of $35.13. The stock has a market capitalization of $456.45 million, a price-to-earnings ratio of 12.59 and a beta of 0.89. The company has a fifty day moving average of $29.47 and a 200-day moving average of $26.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.79.

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

Sierra Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Thursday, October 31st. Sierra Bancorp’s payout ratio is 38.10%.

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.