Bank of New York Mellon Corp Has $2.52 Million Position in Sierra Bancorp (NASDAQ:BSRR)
Bank of New York Mellon Corp boosted its stake in Sierra Bancorp (NASDAQ:BSRR) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,748 shares of the financial services provider’s stock after buying an additional 2,486 shares during the period. Bank of New York Mellon Corp’s holdings in Sierra Bancorp were worth $2,516,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSRR. LSV Asset Management increased its position in Sierra Bancorp by 12.2% in the first quarter. LSV Asset Management now owns 116,900 shares of the financial services provider’s stock valued at $3,206,000 after buying an additional 12,700 shares during the period. Teachers Advisors LLC increased its position in Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock valued at $516,000 after buying an additional 1,300 shares during the period. FMR LLC purchased a new position in Sierra Bancorp during the fourth quarter valued at about $6,293,000. Dimensional Fund Advisors LP increased its position in Sierra Bancorp by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 827,845 shares of the financial services provider’s stock valued at $22,012,000 after buying an additional 36,403 shares during the period. Finally, State Street Corp increased its position in Sierra Bancorp by 3.0% in the fourth quarter. State Street Corp now owns 202,875 shares of the financial services provider’s stock valued at $5,395,000 after buying an additional 5,853 shares during the period. 54.07% of the stock is owned by institutional investors and hedge funds.
Sierra Bancorp (NASDAQ:BSRR) opened at 23.51 on Tuesday. The stock’s 50 day moving average price is $24.85 and its 200 day moving average price is $26.26. The firm has a market cap of $325.17 million, a P/E ratio of 17.96 and a beta of 0.85. Sierra Bancorp has a 1-year low of $16.98 and a 1-year high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $22.02 million during the quarter, compared to analyst estimates of $22.35 million. Sierra Bancorp had a net margin of 19.99% and a return on equity of 8.79%. Equities research analysts predict that Sierra Bancorp will post $1.30 EPS for the current year.
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Several research analysts have recently issued reports on the company. Zacks Investment Research raised Sierra Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, March 20th. ValuEngine raised Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. DA Davidson raised Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 price target on shares of Sierra Bancorp in a research note on Friday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.88.
In other news, Director Robb Evans acquired 1,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was acquired at an average price of $25.39 per share, for a total transaction of $25,390.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $380,850. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.24% of the company’s stock.
About Sierra Bancorp
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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