Key Points
- CEO Kevin Mcphaill sold 4,000 Sierra Bancorp shares at an average price of $42.85, generating $171,400. His remaining 63,807 shares are valued at approximately $2.73 million.
- Sierra Bancorp exceeded quarterly expectations, reporting earnings of $1.18 per share versus the $0.91 consensus estimate and revenue of $40.08 million.
- The company declared a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 payout and a 2.5% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $43.75.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) CEO Kevin Mcphaill sold 4,000 shares of the company's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.85, for a total value of $171,400.00. Following the completion of the sale, the chief executive officer owned 63,807 shares of the company's stock, valued at approximately $2,734,129.95. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Sierra Bancorp Price Performance
NASDAQ:BSRR opened at $42.43 on Friday. Sierra Bancorp has a 52-week low of $27.93 and a 52-week high of $44.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market cap of $549.89 million, a P/E ratio of 10.91 and a beta of 0.76. The business's 50-day moving average price is $40.10 and its 200 day moving average price is $38.19.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.27. The company had revenue of $40.08 million during the quarter, compared to analyst estimates of $39.23 million. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. As a group, sell-side analysts predict that Sierra Bancorp will post 3.86 earnings per share for the current fiscal year.
Sierra Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.08 annualized dividend and a yield of 2.5%. Sierra Bancorp's dividend payout ratio is currently 27.84%.
Institutional Investors Weigh In On Sierra Bancorp
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Sierra Bancorp in the 2nd quarter valued at approximately $53,249,000. Jupiter Topco LLC acquired a new position in Sierra Bancorp in the 2nd quarter worth approximately $17,865,000. The Manufacturers Life Insurance Company acquired a new position in Sierra Bancorp in the 2nd quarter worth approximately $14,576,000. Janus Henderson Group PLC boosted its stake in Sierra Bancorp by 32.9% in the 1st quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider's stock worth $11,673,000 after purchasing an additional 85,098 shares during the period. Finally, Basswood Capital Management L.L.C. purchased a new position in Sierra Bancorp during the 2nd quarter worth approximately $7,503,000. Institutional investors and hedge funds own 55.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Raymond James Financial reiterated a "market perform" rating on shares of Sierra Bancorp in a research report on Monday. DA Davidson increased their price objective on Sierra Bancorp from $47.00 to $48.50 and gave the company a "buy" rating in a research report on Tuesday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Sierra Bancorp presently has a consensus rating of "Hold" and an average target price of $43.75.
Get Our Latest Stock Report on BSRR
About Sierra Bancorp
(
Get Free Report)
Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California's Central Valley and surrounding communities.
Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
