Pasadena Private Wealth LLC Invests $538,000 in Sierra Bancorp $BSRR

Pasadena Private Wealth LLC bought a new stake in Sierra Bancorp (NASDAQ:BSRR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,200 shares of the financial services provider’s stock, valued at approximately $538,000. Pasadena Private Wealth LLC owned about 0.10% of Sierra Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Sierra Bancorp by 32.9% during the 1st quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider’s stock valued at $11,673,000 after purchasing an additional 85,098 shares in the last quarter. Oxbow Advisors LLC bought a new position in Sierra Bancorp in the 2nd quarter valued at $1,115,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in Sierra Bancorp in the second quarter worth $3,510,000. Arrowstreet Capital Limited Partnership boosted its stake in Sierra Bancorp by 19.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 98,619 shares of the financial services provider’s stock worth $3,345,000 after purchasing an additional 15,877 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Sierra Bancorp by 24.3% during the first quarter. Quantinno Capital Management LP now owns 24,825 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 4,858 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 owned 39,095 shares in the company, valued at $1,492,647.10. This trade represents a 20.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hugh F. Boyle sold 10,000 shares of Sierra Bancorp stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the sale, the executive vice president owned 21,781 shares of the company’s stock, valued at approximately $832,252.01. The trade was a 31.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 11.83% of the company’s stock.

Sierra Bancorp Stock Performance

Shares of Sierra Bancorp stock opened at $39.72 on Thursday. 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 firm has a market cap of $514.77 million, a P/E ratio of 11.61 and a beta of 0.77. The firm has a 50 day simple moving average of $40.79 and a 200 day simple moving average of $37.83. Sierra Bancorp has a fifty-two week low of $26.49 and a fifty-two week high of $43.13.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) 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 firm had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. Sell-side analysts predict 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. Stockholders of record on Monday, August 3rd were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 3rd. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. Sierra Bancorp’s dividend payout ratio is presently 31.58%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BSRR shares. Piper Sandler lowered their target price on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. DA Davidson reiterated a “buy” rating and set a $44.00 price target on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.67.

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.