Geode Capital Management LLC Has $8.55 Million Stake in Sierra Bancorp (NASDAQ:BSRR)

Geode Capital Management LLC cut its holdings in shares of Sierra Bancorp (NASDAQ:BSRR) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,117 shares of the financial services provider’s stock after selling 2,351 shares during the quarter. Geode Capital Management LLC owned about 2.06% of Sierra Bancorp worth $8,554,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in shares of Sierra Bancorp by 1.2% during the 2nd quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock worth $14,707,000 after buying an additional 7,515 shares during the last quarter. State Street Corp raised its holdings in Sierra Bancorp by 3.6% in the 3rd quarter. State Street Corp now owns 321,257 shares of the financial services provider’s stock valued at $9,278,000 after acquiring an additional 11,095 shares during the period. FMR LLC lifted its position in Sierra Bancorp by 12.5% during the third quarter. FMR LLC now owns 194,573 shares of the financial services provider’s stock worth $5,619,000 after acquiring an additional 21,558 shares during the last quarter. Foundry Partners LLC lifted its position in Sierra Bancorp by 19.2% during the third quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider’s stock worth $5,111,000 after acquiring an additional 28,495 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Sierra Bancorp by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after acquiring an additional 3,531 shares during the period. Institutional investors own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Albert L. Berra sold 2,540 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $4,838,031.12. This represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James C. Holly sold 5,000 shares of the 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 completion of the sale, the director now owns 313,370 shares of the company’s stock, valued at approximately $9,081,462.60. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,056 shares of company stock valued at $244,741. 11.86% of the stock is owned by company insiders.

Sierra Bancorp Stock Performance

Sierra Bancorp stock opened at $28.55 on Friday. The business has a 50 day moving average of $30.54 and a 200-day moving average of $28.30. The company has a market capitalization of $410.95 million, a P/E ratio of 11.33 and a beta of 0.92. Sierra Bancorp has a 1 year low of $17.69 and a 1 year high of $35.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $38.30 million. On average, equities research analysts predict that Sierra Bancorp will post 2.79 earnings per share for the current year.

Sierra Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Thursday, October 31st. Sierra Bancorp’s payout ratio is 38.10%.

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.