Key Points
- Sierra Bancorp director Vonn Christenson sold 3,947 shares on May 8 at an average price of $38.05, totaling about $150,183. After the sale, he held just 189 shares, a 95.43% reduction in his ownership.
- The stock was slightly lower, opening at $37.29 and down 0.7% on the day, while trading near its 52-week high of $38.60. Sierra Bancorp’s market cap was about $487.7 million.
- The company recently beat earnings estimates, reporting $0.96 EPS versus the expected $0.82, and it paid a quarterly dividend of $0.26 per share, equal to a 2.8% annualized yield. Analysts currently have a consensus Hold rating with a $37.00 price target.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Vonn Christenson sold 3,947 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $38.05, for a total transaction of $150,183.35. Following the transaction, the director owned 189 shares of the company's stock, valued at approximately $7,191.45. This represents a 95.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sierra Bancorp Stock Down 0.7%
Shares of BSRR opened at $37.29 on Wednesday. Sierra Bancorp has a one year low of $26.49 and a one year high of $38.60. The company has a market cap of $487.72 million, a P/E ratio of 10.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $35.02 and a two-hundred day simple moving average of $33.80.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.82 by $0.14. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. The business had revenue of $38.66 million during the quarter, compared to the consensus estimate of $39.68 million. Research analysts forecast that Sierra Bancorp will post 3.73 EPS for the current fiscal year.
Sierra Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 4th. Sierra Bancorp's payout ratio is currently 30.32%.
Institutional Trading of Sierra Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of BSRR. Janus Henderson Group PLC bought a new stake in shares of Sierra Bancorp during the fourth quarter worth $8,465,000. Bank of America Corp DE grew its stake in shares of Sierra Bancorp by 371.5% during the second quarter. Bank of America Corp DE now owns 64,365 shares of the financial services provider's stock worth $1,911,000 after buying an additional 50,714 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Sierra Bancorp by 16.1% during the second quarter. Ameriprise Financial Inc. now owns 238,620 shares of the financial services provider's stock worth $7,085,000 after buying an additional 33,048 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Sierra Bancorp during the first quarter worth $784,000. Finally, Vanguard Group Inc. grew its stake in shares of Sierra Bancorp by 3.2% in the third quarter. Vanguard Group Inc. now owns 733,567 shares of the financial services provider's stock worth $21,207,000 after purchasing an additional 22,931 shares during the last quarter. Institutional investors own 55.40% of the company's stock.
Analyst Upgrades and Downgrades
BSRR has been the topic of a number of research reports. Zacks Research cut shares of Sierra Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Piper Sandler decreased their target price on shares of Sierra Bancorp from $36.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. DA Davidson reaffirmed a "buy" rating and set a $44.00 target price on shares of Sierra Bancorp in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sierra Bancorp in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sierra Bancorp currently has a consensus rating of "Hold" and a consensus price target of $37.00.
Read Our Latest Research Report on BSRR
Sierra Bancorp Company Profile
(
Get Free Report)
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.
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