Kintayl Capital LP Makes New $1.35 Million Investment in Sierra Bancorp $BSRR

Kintayl Capital LP purchased a new stake in Sierra Bancorp (NASDAQ:BSRR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,435 shares of the financial services provider’s stock, valued at approximately $1,354,000. Kintayl Capital LP owned 0.27% of Sierra Bancorp as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Sierra Bancorp in the 2nd quarter valued at approximately $26,000. Russell Investments Group Ltd. lifted its stake in Sierra Bancorp by 3,714.3% during the third 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 in the last quarter. Legal & General Group Plc acquired a new position in Sierra Bancorp during the second quarter worth $45,000. Deutsche Bank AG purchased a new position in shares of Sierra Bancorp during the second quarter worth $76,000. Finally, Longfellow Investment Management Co. LLC purchased a new position in shares of Sierra Bancorp during the second quarter worth $82,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Hugh F. Boyle sold 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $38.21, for a total transaction of $382,100.00. Following the completion of the transaction, the executive vice president owned 21,781 shares in the company, valued at approximately $832,252.01. The trade was a 31.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BSRR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Wednesday, June 24th. DA Davidson reaffirmed a “buy” rating and issued a $44.00 target price on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Finally, Piper Sandler cut their price target on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Sierra Bancorp Trading Down 0.5%

NASDAQ:BSRR opened at $39.46 on Wednesday. Sierra Bancorp has a 12-month low of $26.49 and a 12-month high of $43.13. The firm has a market cap of $511.40 million, a PE ratio of 11.54 and a beta of 0.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $40.75 and a 200 day moving average price of $37.91.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%.The company had revenue of $38.98 million for the quarter, compared to analysts’ expectations of $39.59 million. Sell-side analysts anticipate that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.7%. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, August 3rd. Sierra Bancorp’s dividend payout ratio is 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.