Key Points
- Insider sale: Director Lynda Scearcy sold 1,000 shares on Nov. 10 at an average price of $30 for $30,000, trimming her stake by 3.2% to 30,233 shares (about $906,990).
- Earnings miss and outlook: Sierra Bancorp reported Q3 EPS of $0.72 versus a $0.79 consensus (revenue $40.03M slightly above estimates), and analysts hold a consensus "Moderate Buy" with an average target of $34.50.
- Dividend announced: The company declared a $0.25 quarterly dividend ( $1.00 annualized) with an ex-dividend/record date of Nov. 3 and a yield of about 3.4% (payout ratio ~34.8%).
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Lynda Scearcy sold 1,000 shares of the firm's stock in a transaction on Monday, November 10th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the sale, the director directly owned 30,233 shares of the company's stock, valued at approximately $906,990. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Sierra Bancorp Stock Performance
Shares of NASDAQ:BSRR traded down $0.27 during trading on Friday, reaching $29.19. 14,365 shares of the company's stock traded hands, compared to its average volume of 36,482. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.78 and a quick ratio of 0.78. Sierra Bancorp has a 12 month low of $22.42 and a 12 month high of $33.50. The company has a 50 day moving average of $28.98 and a 200-day moving average of $29.01. The stock has a market capitalization of $388.10 million, a P/E ratio of 10.17 and a beta of 0.84.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings data on Monday, October 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.07). The company had revenue of $40.03 million during the quarter, compared to the consensus estimate of $39.57 million. Sierra Bancorp had a net margin of 19.70% and a return on equity of 11.21%. On average, equities analysts expect that Sierra Bancorp will post 2.95 EPS for the current year.
Sierra Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, November 3rd. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. Sierra Bancorp's dividend payout ratio (DPR) is presently 34.84%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Sierra Bancorp from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 29th. DA Davidson reaffirmed a "buy" rating and set a $36.00 price objective on shares of Sierra Bancorp in a report on Tuesday, October 28th. Zacks Research lowered Sierra Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Sierra Bancorp in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.50.
Read Our Latest Report on BSRR
Institutional Investors Weigh In On Sierra Bancorp
A number of large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Sierra Bancorp in the second quarter valued at approximately $26,000. Russell Investments Group Ltd. increased its position in Sierra Bancorp by 3,714.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,040 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Sierra Bancorp by 57.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider's stock valued at $67,000 after buying an additional 829 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Sierra Bancorp during the 2nd quarter valued at about $71,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Sierra Bancorp by 121.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 1,956 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company's stock.
About Sierra Bancorp
(
Get Free Report)
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.
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