Bessemer Group Inc. lifted its holdings in Sierra Bancorp (NASDAQ:BSRR) by 63.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,200 shares of the financial services provider’s stock after purchasing an additional 13,300 shares during the period. Bessemer Group Inc.’s holdings in Sierra Bancorp were worth $822,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in shares of Sierra Bancorp by 18.1% in the 4th quarter. Citigroup Inc. now owns 4,468 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 685 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Sierra Bancorp by 5,069.0% in the 3rd quarter. Bank of Montreal Can now owns 5,169 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 5,069 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Sierra Bancorp by 71.9% in the 4th quarter. Acadian Asset Management LLC now owns 8,311 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 3,477 shares during the last quarter. Pacific Wealth Strategies Group Inc. acquired a new stake in shares of Sierra Bancorp in the 4th quarter valued at $211,000. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Sierra Bancorp by 63.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,574 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 3,733 shares during the last quarter. 52.75% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Michael Olague bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $26.89 per share, for a total transaction of $403,350.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robb Evans bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was purchased at an average price of $26.79 per share, for a total transaction of $26,790.00. Following the acquisition, the director now directly owns 19,000 shares in the company, valued at $509,010. The disclosure for this purchase can be found here. Insiders purchased a total of 16,500 shares of company stock worth $443,570 in the last quarter. Insiders own 10.21% of the company’s stock.
Shares of BSRR opened at $25.64 on Friday. The firm has a market capitalization of $391.86 million, a P/E ratio of 13.35, a PEG ratio of 1.49 and a beta of 0.88. Sierra Bancorp has a one year low of $22.93 and a one year high of $31.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.
Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $29.32 million during the quarter, compared to the consensus estimate of $29.53 million. Sierra Bancorp had a return on equity of 11.43% and a net margin of 24.09%. On average, research analysts expect that Sierra Bancorp will post 2.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, January 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, January 30th. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.16. Sierra Bancorp’s dividend payout ratio (DPR) is 37.50%.
BSRR has been the subject of several analyst reports. BidaskClub lowered shares of Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. Zacks Investment Research lowered shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Finally, Hovde Group reiterated a “buy” rating on shares of Sierra Bancorp in a report on Monday, January 28th.
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About Sierra Bancorp
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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.
Further Reading: Treasury Bonds
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