Segall Bryant & Hamill LLC Raises Stake in Sierra Bancorp $BSRR

Segall Bryant & Hamill LLC boosted its holdings in shares of Sierra Bancorp (NASDAQ:BSRR) by 367.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,131 shares of the financial services provider’s stock after buying an additional 51,981 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Sierra Bancorp were worth $1,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rhumbline Advisers boosted its holdings in shares of Sierra Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock valued at $590,000 after acquiring an additional 527 shares during the last quarter. CWM LLC lifted its position in Sierra Bancorp by 15.1% during the first quarter. CWM LLC now owns 4,920 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 647 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Sierra Bancorp by 5.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,637 shares of the financial services provider’s stock valued at $1,077,000 after purchasing an additional 1,907 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Sierra Bancorp in the second quarter valued at $71,000. Finally, Voya Investment Management LLC boosted its holdings in Sierra Bancorp by 40.5% in the first quarter. Voya Investment Management LLC now owns 14,141 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 4,073 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BSRR. Zacks Research lowered Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Keefe, Bruyette & Woods lifted their price target on Sierra Bancorp from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, October 29th. DA Davidson reissued a “buy” rating and issued a $36.00 price target on shares of Sierra Bancorp in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Sierra Bancorp in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.50.

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock opened at $31.00 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.24. Sierra Bancorp has a twelve month low of $22.42 and a twelve month high of $32.48. The business has a 50-day moving average price of $28.88 and a 200 day moving average price of $29.20. The firm has a market cap of $412.24 million, a PE ratio of 10.80 and a beta of 0.84.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, October 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). Sierra Bancorp had a return on equity of 11.21% and a net margin of 19.70%.The business had revenue of $40.03 million for the quarter, compared to analysts’ expectations of $39.57 million. Sell-side analysts predict that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. Sierra Bancorp’s dividend payout ratio (DPR) is currently 34.84%.

Insider Transactions at Sierra Bancorp

In related news, Director Lynda Scearcy sold 1,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $30.00, for a total value of $30,000.00. Following the completion of the sale, the director owned 30,233 shares of the company’s stock, valued at approximately $906,990. The trade was a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.86% of the company’s stock.

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. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.