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

Oxbow Advisors LLC bought a new position in shares of Sierra Bancorp (NASDAQ:BSRR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 28,368 shares of the financial services provider’s stock, valued at approximately $1,115,000. Oxbow Advisors LLC owned approximately 0.22% of Sierra Bancorp as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Sierra Bancorp by 32.9% in the first 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 during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in Sierra Bancorp during the second quarter worth about $3,510,000. Arrowstreet Capital Limited Partnership grew its position in Sierra Bancorp by 19.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 98,619 shares of the financial services provider’s stock worth $3,345,000 after buying an additional 15,877 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Sierra Bancorp during the 2nd quarter valued at approximately $26,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sierra Bancorp during the 2nd quarter worth approximately $3,780,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Sierra Bancorp Stock Performance

NASDAQ:BSRR opened at $40.65 on Wednesday. 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 company has a market capitalization of $526.95 million, a P/E ratio of 11.89 and a beta of 0.77. The firm has a 50-day moving average price of $40.80 and a two-hundred day moving average price of $37.80. Sierra Bancorp has a twelve month low of $26.49 and a twelve month high of $43.13.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results 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). The business had revenue of $38.98 million during the quarter, compared to analysts’ expectations of $39.59 million. Sierra Bancorp had a net margin of 22.37% and a return on equity of 12.38%. As a group, research analysts expect that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.08 annualized dividend and a dividend yield of 2.7%. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.26. Sierra Bancorp’s payout ratio is presently 31.58%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler dropped their price objective 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 target price on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.67.

Insider Activity at Sierra Bancorp

In related news, CFO Christopher G. Treece sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $381,800.00. Following the sale, the chief financial officer owned 39,095 shares of the company’s stock, valued at approximately $1,492,647.10. This represents a 20.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hugh F. Boyle sold 10,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $38.21, for a total value of $382,100.00. Following the sale, the executive vice president owned 21,781 shares in the company, valued at approximately $832,252.01. This trade represents a 31.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.83% of the company’s stock.

About Sierra Bancorp

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.