Private Management Group Inc. Sells 36,567 Shares of Sierra Bancorp $BSRR

Private Management Group Inc. reduced its stake in Sierra Bancorp (NASDAQ:BSRR) by 6.3% during the 4th quarter, Holdings Channel reports. The firm owned 546,139 shares of the financial services provider’s stock after selling 36,567 shares during the period. Private Management Group Inc.’s holdings in Sierra Bancorp were worth $17,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BSRR. Raymond James Financial Inc. bought a new position in shares of Sierra Bancorp in the 2nd quarter worth $26,000. Russell Investments Group Ltd. boosted its position in shares of Sierra Bancorp by 3,714.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,040 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Sierra Bancorp by 57.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 829 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Sierra Bancorp by 121.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,956 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sierra Bancorp in the 4th quarter worth $153,000. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSRR has been the topic of several recent research reports. Zacks Research lowered Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. DA Davidson restated a “buy” rating and issued a $44.00 price target on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Friday, March 27th. Finally, Piper Sandler reduced their target price on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Insiders Place Their Bets

In other Sierra Bancorp news, Director Vonn R. Christenson sold 3,947 shares of Sierra Bancorp stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.05, for a total transaction of $150,183.35. Following the transaction, the director directly owned 189 shares in the company, valued at approximately $7,191.45. The trade was a 95.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher G. Treece sold 10,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.18, for a total value of $381,800.00. Following the completion of the sale, the chief financial officer owned 39,095 shares in the company, valued at approximately $1,492,647.10. This trade represents a 20.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,000 shares of company stock worth $954,108. Corporate insiders own 11.83% of the company’s stock.

Sierra Bancorp Stock Performance

BSRR stock opened at $40.25 on Friday. The business’s 50-day moving average price is $37.11 and its two-hundred day moving average price is $35.27. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The firm has a market cap of $526.47 million, a PE ratio of 11.73 and a beta of 0.77. Sierra Bancorp has a 1-year low of $26.49 and a 1-year high of $41.15.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.14. The firm had revenue of $38.66 million for the quarter, compared to analyst estimates of $39.68 million. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%. As a group, research analysts forecast that Sierra Bancorp will post 3.73 earnings per share for the current year.

Sierra Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 4th. This represents a $1.04 annualized dividend and a yield of 2.6%. Sierra Bancorp’s payout ratio is currently 30.32%.

Sierra Bancorp Profile

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.