Key Points
- Sierra Bancorp CFO Christopher Treece sold 10,000 shares on May 22 at an average price of $38.18, for total proceeds of $381,800. After the sale, he still owned 39,095 shares.
- The company reported stronger-than-expected quarterly earnings, with EPS of $0.96 versus the $0.82 consensus estimate, though revenue came in slightly below forecasts at $38.66 million.
- Sierra Bancorp paid a quarterly dividend of $0.26 per share, equal to an annualized yield of about 2.7%, while analysts currently have a consensus rating of Hold and a price target of $37.00.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) CFO Christopher Treece sold 10,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.18, for a total transaction of $381,800.00. Following the completion of the sale, the chief financial officer owned 39,095 shares in the company, valued at approximately $1,492,647.10. The trade was a 20.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Sierra Bancorp Stock Down 0.8%
Shares of BSRR stock opened at $38.19 on Friday. The stock has a market cap of $499.53 million, a P/E ratio of 11.13 and a beta of 0.76. 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 company's fifty day simple moving average is $35.55 and its two-hundred day simple moving average is $34.30.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.82 by $0.14. The business had revenue of $38.66 million for the quarter, compared to analysts' expectations of $39.68 million. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. Analysts predict that Sierra Bancorp will post 3.73 EPS for the current fiscal year.
Sierra Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.26 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.04 annualized dividend and a yield of 2.7%. Sierra Bancorp's payout ratio is presently 30.32%.
Analyst Ratings Changes
BSRR has been the topic of several research analyst 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Sierra Bancorp in a research note on Friday, March 27th. DA Davidson reiterated a "buy" rating and issued a $44.00 price target on shares of Sierra Bancorp in a research note on Tuesday, April 28th. Finally, Piper Sandler decreased their price target 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Sierra Bancorp currently has an average rating of "Hold" and a consensus price target of $37.00.
Read Our Latest Stock Analysis on BSRR
Institutional Trading of Sierra Bancorp
Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Sierra Bancorp during the 2nd quarter valued at about $26,000. Russell Investments Group Ltd. raised its position in shares of 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 buying an additional 1,040 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Sierra Bancorp by 57.7% during the 2nd 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 in the last quarter. BNP Paribas Financial Markets raised its position in shares of Sierra Bancorp by 121.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider's stock valued at $103,000 after buying an additional 1,956 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Sierra Bancorp during the 4th quarter valued at about $153,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.
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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