Hotchkis & Wiley Capital Management LLC Has $4.05 Million Stake in Sierra Bancorp (NASDAQ:BSRR)

Hotchkis & Wiley Capital Management LLC trimmed its position in Sierra Bancorp (NASDAQ:BSRR) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,242 shares of the financial services provider’s stock after selling 900 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.97% of Sierra Bancorp worth $4,050,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of Sierra Bancorp during the third quarter worth $29,000. SG Americas Securities LLC acquired a new stake in shares of Sierra Bancorp during the third quarter worth about $142,000. Panagora Asset Management Inc. raised its position in shares of Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 904 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sierra Bancorp by 85.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,241 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 12,077 shares during the period. Finally, Martingale Asset Management L P raised its position in shares of Sierra Bancorp by 21.6% during the third quarter. Martingale Asset Management L P now owns 36,184 shares of the financial services provider’s stock worth $1,045,000 after purchasing an additional 6,431 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.98, for a total value of $144,900.00. Following the transaction, the director now owns 313,370 shares in the company, valued at approximately $9,081,462.60. This represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert L. Berra sold 2,540 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the sale, the director now directly owns 150,063 shares of the company’s stock, valued at $4,838,031.12. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,056 shares of company stock worth $244,741 in the last 90 days. Corporate insiders own 11.86% of the company’s stock.

Sierra Bancorp Price Performance

Sierra Bancorp stock opened at $30.96 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.79. Sierra Bancorp has a 52 week low of $17.69 and a 52 week high of $35.13. The stock has a market capitalization of $445.51 million, a P/E ratio of 12.29 and a beta of 0.92. The stock has a fifty day moving average of $29.85 and a 200-day moving average of $27.05.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, October 21st. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. The business had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $38.30 million. On average, sell-side analysts expect that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. Sierra Bancorp’s payout ratio is 38.10%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday. StockNews.com raised Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 16th.

Sierra Bancorp Profile

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. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.