Oxbow Advisors LLC Buys Shares of 28,368 Sierra Bancorp $BSRR

Oxbow Advisors LLC purchased a new position in shares of Sierra Bancorp (NASDAQ:BSRR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,368 shares of the financial services provider’s stock, valued at approximately $1,115,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Sierra Bancorp by 71.6% in the first quarter. AQR Capital Management LLC now owns 24,072 shares of the financial services provider’s stock valued at $671,000 after buying an additional 10,046 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Sierra Bancorp during the first quarter valued at approximately $784,000. Rhumbline Advisers boosted its position in Sierra Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 527 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Sierra Bancorp by 3.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 60,262 shares of the financial services provider’s stock worth $1,789,000 after acquiring an additional 1,744 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Sierra Bancorp by 13.6% in the 2nd quarter. Invesco Ltd. now owns 9,852 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 1,177 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sierra Bancorp

In other news, CFO Christopher G. Treece sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $381,800.00. Following the transaction, the chief financial officer directly owned 39,095 shares in the company, valued at $1,492,647.10. This trade represents a 20.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Hugh F. Boyle sold 10,000 shares of Sierra Bancorp stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the transaction, the executive vice president directly owned 21,781 shares in the company, valued at $832,252.01. This represents a 31.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 11.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BSRR. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Wednesday, June 24th. DA Davidson restated a “buy” rating and set a $44.00 price objective on shares of Sierra Bancorp in a report on Tuesday, April 28th. Finally, Piper Sandler lowered their price objective on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Sierra Bancorp presently has a consensus rating of “Hold” and an average price target of $38.67.

Sierra Bancorp Trading Down 0.4%

NASDAQ BSRR opened at $40.65 on Wednesday. The company has a market cap of $526.95 million, a P/E ratio of 11.89 and a beta of 0.77. Sierra Bancorp has a 12 month low of $26.49 and a 12 month high of $43.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day moving average of $40.80 and a 200-day moving average of $37.80.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%.The firm had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. As a group, equities analysts predict that Sierra Bancorp will post 3.55 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.27 per share. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 3rd. Sierra Bancorp’s payout ratio is currently 31.58%.

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.