Sierra Bancorp (NASDAQ:BSRR - Get Free Report) CFO Christopher Treece sold 4,000 shares of the company's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $42.51, for a total value of $170,040.00. Following the completion of the sale, the chief financial officer owned 35,095 shares in the company, valued at $1,491,888.45. The trade was a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sierra Bancorp Trading Down 1.2%
Sierra Bancorp stock opened at $41.90 on Friday. The stock's 50 day simple moving average is $40.15 and its two-hundred day simple moving average is $38.23. Sierra Bancorp has a 12 month low of $27.93 and a 12 month high of $44.00. The firm has a market cap of $543.02 million, a PE ratio of 10.80 and a beta of 0.76. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.
Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its earnings results on Monday, October 26th. The financial services provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.27. Sierra Bancorp had a return on equity of 13.86% and a net margin of 25.32%. The firm had revenue of $40.08 million for the quarter, compared to analysts' expectations of $39.23 million. Analysts anticipate that Sierra Bancorp will post 3.86 earnings per share for the current year.
Sierra Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, November 2nd. Sierra Bancorp's payout ratio is presently 27.84%.
Wall Street Analysts Forecast Growth
BSRR has been the topic of several recent research reports. Piper Sandler lowered their target price on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. DA Davidson lifted their price objective on Sierra Bancorp from $47.00 to $48.50 and gave the stock a "buy" rating in a research report on Tuesday. Raymond James Financial reiterated a "market perform" rating on shares of Sierra Bancorp in a report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Sierra Bancorp in a report on Monday, September 21st. Finally, Zacks Research raised shares of Sierra Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.75.
Check Out Our Latest Stock Report on Sierra Bancorp
Key Sierra Bancorp News
Here are the key news stories impacting Sierra Bancorp this week:
- Positive Sentiment: Zacks upgraded Sierra Bancorp from “Hold” to “Strong Buy,” adding a notable bullish catalyst for the stock. BSRR was also included on Zacks’ Rank #1 momentum and Strong Buy lists. Best Momentum Stocks to Buy for October 29th
- Positive Sentiment: DA Davidson raised its price target to $48.50 and maintained a Buy rating, implying additional upside from recent trading levels. However, the broader analyst consensus remains Hold with an average target of $43.75. Sierra Bancorp Stock Price Expected to Rise, DA Davidson Analyst Says
- Positive Sentiment: Recent quarterly results exceeded expectations: earnings per share were $1.18 versus a $0.91 estimate, while revenue reached $40.08 million compared with expectations of $39.23 million. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 2.5% indicated yield.
- Positive Sentiment: Institutional ownership stands at 55.4%, with major investors including BlackRock, Jupiter Topco and Manufacturers Life Insurance recently establishing positions. This may provide longer-term institutional support.
- Negative Sentiment: CEO Kevin Mcphaill sold 4,000 shares for approximately $171,400, reducing his direct ownership by 5.9%. Director Lynda Scearcy separately sold 5,850 shares, cutting her position by 19.4%. Multiple insider sales can create short-term caution, although the transactions do not necessarily indicate a change in business outlook. Sierra Bancorp Insider Buying and Selling
Institutional Trading of Sierra Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Sierra Bancorp in the second quarter valued at approximately $53,249,000. Jupiter Topco LLC acquired a new position in shares of Sierra Bancorp in the second quarter worth $17,865,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Sierra Bancorp during the second quarter worth $14,576,000. Janus Henderson Group PLC increased its position in shares of Sierra Bancorp by 32.9% during the first quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider's stock worth $11,673,000 after acquiring an additional 85,098 shares during the period. Finally, Basswood Capital Management L.L.C. acquired a new stake in shares of Sierra Bancorp in the second quarter valued at $7,503,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.
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.
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