Morgan Stanley Sells 38,926 Shares of Sierra Bancorp (BSRR)
Morgan Stanley cut its position in shares of Sierra Bancorp (NASDAQ:BSRR) by 23.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,309 shares of the financial services provider’s stock after selling 38,926 shares during the period. Morgan Stanley’s holdings in Sierra Bancorp were worth $3,410,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised 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 worth $516,000 after buying an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp raised its position in Sierra Bancorp by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 91,748 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 2,486 shares during the last quarter. Wellington Management Group LLP raised its position in Sierra Bancorp by 143.4% in the first quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock worth $20,811,000 after buying an additional 446,962 shares during the last quarter. Oxford Asset Management bought a new position in Sierra Bancorp during the first quarter worth about $490,000. Finally, O Shaughnessy Asset Management LLC raised its position in Sierra Bancorp by 206.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,580 shares of the financial services provider’s stock worth $894,000 after buying an additional 21,941 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sierra Bancorp (NASDAQ:BSRR) traded down 0.04% on Friday, reaching $25.39. The company had a trading volume of 38,550 shares. The stock has a 50 day moving average price of $25.46 and a 200-day moving average price of $26.06. The company has a market capitalization of $351.35 million, a price-to-earnings ratio of 18.41 and a beta of 0.86. Sierra Bancorp has a 12 month low of $17.25 and a 12 month high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. The firm had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. Analysts forecast that Sierra Bancorp will post $1.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 1st. Sierra Bancorp’s dividend payout ratio is currently 40.88%.
A number of research analysts have recently issued reports on BSRR shares. DA Davidson raised Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, May 23rd. ValuEngine raised Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Hovde Group boosted their target price on Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a report on Friday, July 28th. Zacks Investment Research raised Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, July 11th. Finally, BidaskClub lowered Sierra Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Sierra Bancorp has an average rating of “Hold” and a consensus price target of $27.75.
In related news, Director Robert L. Fields sold 9,600 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $27.14, for a total value of $260,544.00. Following the sale, the director now directly owns 412,543 shares in the company, valued at approximately $11,196,417.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Fields sold 2,465 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $27.13, for a total value of $66,875.45. Following the completion of the sale, the director now owns 410,078 shares in the company, valued at $11,125,416.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,165 shares of company stock worth $330,119. 15.24% of the stock is owned by insiders.
Sierra Bancorp Company Profile
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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