Northern Trust Corp Grows Stake in Sierra Bancorp (BSRR)

Share on StockTwits

Northern Trust Corp grew its holdings in shares of Sierra Bancorp (NASDAQ:BSRR) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 458,960 shares of the financial services provider’s stock after purchasing an additional 16,494 shares during the quarter. Northern Trust Corp owned approximately 3.01% of Sierra Bancorp worth $12,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSRR. Wells Fargo & Company MN raised its position in Sierra Bancorp by 11.6% in the 1st quarter. Wells Fargo & Company MN now owns 19,081 shares of the financial services provider’s stock worth $509,000 after buying an additional 1,987 shares during the last quarter. BlackRock Inc. raised its position in Sierra Bancorp by 6.6% in the 1st quarter. BlackRock Inc. now owns 861,346 shares of the financial services provider’s stock worth $22,946,000 after buying an additional 53,510 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sierra Bancorp by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,002,535 shares of the financial services provider’s stock worth $26,708,000 after buying an additional 37,009 shares during the last quarter. Acadian Asset Management LLC raised its position in Sierra Bancorp by 90.2% in the 2nd quarter. Acadian Asset Management LLC now owns 4,834 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,292 shares during the last quarter. Finally, Penn Capital Management Co. Inc. raised its position in Sierra Bancorp by 31.2% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 36,394 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 8,652 shares during the last quarter. 52.19% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Kevin J. Mcphaill sold 4,801 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $29.37, for a total transaction of $141,005.37. Following the completion of the sale, the chief executive officer now owns 12,230 shares of the company’s stock, valued at approximately $359,195.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon T. Woods sold 2,500 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $29.55, for a total transaction of $73,875.00. Following the sale, the director now directly owns 22,500 shares of the company’s stock, valued at approximately $664,875. The disclosure for this sale can be found here. Insiders have sold a total of 9,301 shares of company stock valued at $275,320 in the last ninety days. Insiders own 10.21% of the company’s stock.

A number of equities analysts have weighed in on BSRR shares. BidaskClub lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Hovde Group reissued a “buy” rating and issued a $32.00 target price on shares of Sierra Bancorp in a research report on Thursday, July 26th. Sandler O’Neill reissued a “neutral” rating on shares of Sierra Bancorp in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered Sierra Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.25.

NASDAQ BSRR opened at $27.83 on Wednesday. Sierra Bancorp has a 52 week low of $24.32 and a 52 week high of $31.18. The stock has a market cap of $424.47 million, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.77 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). Sierra Bancorp had a net margin of 21.44% and a return on equity of 11.09%. The business had revenue of $29.50 million for the quarter, compared to analysts’ expectations of $28.75 million. Sell-side analysts forecast that Sierra Bancorp will post 1.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, October 31st. Sierra Bancorp’s payout ratio is currently 41.29%.

ILLEGAL ACTIVITY WARNING: This report was originally reported by Week Herald and is the property of of Week Herald. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://weekherald.com/2018/11/07/northern-trust-corp-grows-stake-in-sierra-bancorp-bsrr.html.

About Sierra Bancorp

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

Featured Article: How Do You Calculate Return on Investment (ROI)?

Want to see what other hedge funds are holding BSRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sierra Bancorp (NASDAQ:BSRR).

Institutional Ownership by Quarter for Sierra Bancorp (NASDAQ:BSRR)

Receive News & Ratings for Sierra Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply