Insider Selling: Sierra Bancorp (NASDAQ:BSRR) Director Sells 5,300 Shares of Stock

Key Points

  • Director Lynda Scearcy sold 12,725 Sierra Bancorp shares at an average $41.75, worth about $531,269, reducing her stake by 78.2% to 3,548 shares. She had also made several other stock sales in recent weeks.
  • Sierra Bancorp reported quarterly EPS of $1.18, beating the $0.91 consensus; revenue of $40.08 million also exceeded estimates of $39.23 million.
  • Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $43.83. The company also pays a quarterly dividend of $0.27 per share, equivalent to a 2.6% yield.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Lynda Scearcy sold 5,300 shares of Sierra Bancorp stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $41.46, for a total transaction of $219,738.00. Following the transaction, the director directly owned 5,839 shares in the company, valued at $242,084.94. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Lynda Scearcy also recently made the following trade(s):

  • On Monday, November 9th, Lynda Scearcy sold 12,725 shares of Sierra Bancorp stock. The shares were sold at an average price of $41.75, for a total transaction of $531,268.75.
  • On Tuesday, November 3rd, Lynda Scearcy sold 8,010 shares of Sierra Bancorp stock. The shares were sold at an average price of $42.15, for a total transaction of $337,621.50.
  • On Thursday, October 29th, Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock. The shares were sold at an average price of $42.34, for a total transaction of $247,689.00.

Sierra Bancorp Price Performance




Shares of NASDAQ:BSRR opened at $41.92 on Tuesday. The stock has a market cap of $543.70 million, a PE ratio of 11.04 and a beta of 0.75. The company's fifty day moving average is $40.44 and its 200 day moving average is $38.44. Sierra Bancorp has a 52 week low of $28.35 and a 52 week high of $44.00. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.27. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.89%. The business had revenue of $40.08 million during the quarter, compared to the consensus estimate of $39.23 million. Research analysts anticipate that Sierra Bancorp will post 3.86 earnings per share for the current year.

Sierra Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Monday, November 2nd were issued a $0.27 dividend. The ex-dividend date was Monday, November 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.6%. Sierra Bancorp's payout ratio is currently 27.84%.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Sierra Bancorp in the second quarter worth about $53,249,000. Jupiter Topco LLC bought a new stake in Sierra Bancorp during the 2nd quarter valued at approximately $17,865,000. The Manufacturers Life Insurance Company bought a new stake in Sierra Bancorp during the 2nd quarter valued at approximately $14,576,000. Basswood Capital Management L.L.C. purchased a new position in shares of Sierra Bancorp during the 2nd quarter worth approximately $7,503,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sierra Bancorp during the 2nd quarter worth approximately $3,780,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Sierra Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. DA Davidson raised their price target on Sierra Bancorp from $47.00 to $48.50 and gave the stock a "buy" rating in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods raised their price target on Sierra Bancorp from $42.00 to $44.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 3rd. Raymond James Financial reiterated a "market perform" rating on shares of Sierra Bancorp in a research report on Monday, October 26th. Finally, Piper Sandler dropped 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Check Out Our Latest Research Report on BSRR

Sierra Bancorp Company Profile

(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.

See Also

Insider Buying and Selling by Quarter for Sierra Bancorp (NASDAQ:BSRR)

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