Geode Capital Management LLC Lowers Position in Sierra Bancorp (NASDAQ:BSRR)

Geode Capital Management LLC decreased its holdings in shares of Sierra Bancorp (NASDAQ:BSRR) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 296,117 shares of the financial services provider’s stock after selling 2,351 shares during the period. Geode Capital Management LLC’s holdings in Sierra Bancorp were worth $8,554,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Sierra Bancorp by 301.7% in the 3rd quarter. Barclays PLC now owns 16,896 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 12,690 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Sierra Bancorp during the third quarter valued at approximately $2,818,000. Jane Street Group LLC grew its holdings in shares of Sierra Bancorp by 9.7% in the third quarter. Jane Street Group LLC now owns 16,827 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 1,484 shares during the last quarter. State Street Corp increased its stake in shares of Sierra Bancorp by 3.6% in the third quarter. State Street Corp now owns 321,257 shares of the financial services provider’s stock worth $9,278,000 after buying an additional 11,095 shares during the period. Finally, Martingale Asset Management L P raised its holdings in Sierra Bancorp by 21.6% during the 3rd quarter. Martingale Asset Management L P now owns 36,184 shares of the financial services provider’s stock valued at $1,045,000 after buying an additional 6,431 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSRR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Keefe, Bruyette & Woods boosted their price target on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Sierra Bancorp Stock Performance

NASDAQ:BSRR opened at $28.55 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.46. Sierra Bancorp has a twelve month low of $17.69 and a twelve month high of $35.13. The stock has a market cap of $410.95 million, a P/E ratio of 11.33 and a beta of 0.92. The firm’s fifty day simple moving average is $30.54 and its 200 day simple moving average is $28.30.

Sierra Bancorp (NASDAQ:BSRR) last released 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. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $38.30 million. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. As a group, research analysts predict 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 3.36%. The ex-dividend date of this dividend was Thursday, October 31st. Sierra Bancorp’s payout ratio is 38.10%.

Insider Activity 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 completion of the sale, the director now directly owns 313,370 shares in the company, valued at $9,081,462.60. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Albert L. Berra sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.24, for a total transaction of $81,889.60. Following the sale, the director now directly owns 150,063 shares of the company’s stock, valued at approximately $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. 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 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.