Key Points
- Director Vonn Christenson sold 1,053 shares of Sierra Bancorp at an average price of $38.01, reducing his holdings by 84.78% to 189 shares.
- Sierra Bancorp beat earnings expectations in its latest quarter, reporting $0.96 EPS versus the $0.82 consensus, though revenue came in slightly below estimates.
- The company recently paid a quarterly dividend of $0.26 per share, equal to an annualized yield of 2.7%, while analysts currently rate the stock a consensus Hold with a $37 average target price.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Vonn Christenson sold 1,053 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.01, for a total value of $40,024.53. Following the completion of the transaction, the director owned 189 shares of the company's stock, valued at approximately $7,183.89. This represents a 84.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Sierra Bancorp Trading Up 0.9%
NASDAQ:BSRR opened at $38.26 on Thursday. Sierra Bancorp has a 52-week low of $26.49 and a 52-week high of $38.87. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $35.35 and a 200-day simple moving average of $34.21. The company has a market capitalization of $500.44 million, a PE ratio of 11.15 and a beta of 0.76.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.14. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. The firm had revenue of $38.66 million for the quarter, compared to analysts' expectations of $39.68 million. On average, equities research analysts expect that Sierra Bancorp will post 3.73 earnings per share for the current fiscal year.
Sierra Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. Sierra Bancorp's dividend payout ratio is presently 30.32%.
Institutional Trading of Sierra Bancorp
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Sierra Bancorp by 2.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 17,871 shares of the financial services provider's stock valued at $517,000 after acquiring an additional 480 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Sierra Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider's stock valued at $590,000 after acquiring an additional 527 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Sierra Bancorp by 1.2% in the fourth quarter. Panagora Asset Management Inc. now owns 48,191 shares of the financial services provider's stock valued at $1,575,000 after acquiring an additional 548 shares in the last quarter. First Trust Advisors LP lifted its position in Sierra Bancorp by 1.2% during the second quarter. First Trust Advisors LP now owns 47,970 shares of the financial services provider's stock worth $1,424,000 after buying an additional 577 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Sierra Bancorp by 6.9% in the 4th quarter. Franklin Resources Inc. now owns 10,240 shares of the financial services provider's stock worth $335,000 after buying an additional 662 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on BSRR shares. Piper Sandler cut their price target on Sierra Bancorp from $36.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Zacks Research downgraded Sierra Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Weiss Ratings restated a "buy (b)" rating on shares of Sierra Bancorp in a research report on Friday, March 27th. Finally, DA Davidson restated a "buy" rating and issued a $44.00 price objective on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.00.
Read Our Latest Report on BSRR
About Sierra Bancorp
(
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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