Insider Selling: Sierra Bancorp (NASDAQ:BSRR) EVP Sells 10,000 Shares of Stock

Sierra Bancorp (NASDAQ:BSRR) EVP Hugh Boyle sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the sale, the executive vice president owned 21,781 shares in the company, valued at approximately $832,252.01. This trade represents a 31.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sierra Bancorp Stock Down 0.9%

Shares of BSRR stock traded down $0.33 on Friday, hitting $37.98. 94,235 shares of the stock were exchanged, compared to its average volume of 61,748. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $496.78 million, a P/E ratio of 11.07 and a beta of 0.76. The business has a 50-day moving average of $35.98 and a 200 day moving average of $34.59. Sierra Bancorp has a fifty-two week low of $26.49 and a fifty-two week high of $39.00.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.14. The company had revenue of $38.66 million during the quarter, compared to analysts’ expectations of $39.68 million. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%. Equities analysts anticipate that Sierra Bancorp will post 3.73 EPS for the current year.

Sierra Bancorp Announces Dividend

The firm 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. This represents a $1.04 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, May 4th. Sierra Bancorp’s payout ratio is presently 30.32%.

Hedge Funds Weigh In On Sierra Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in shares of Sierra Bancorp during the first quarter worth approximately $358,000. Sei Investments Co. acquired a new stake in shares of Sierra Bancorp in the first quarter valued at approximately $284,000. Occudo Quantitative Strategies LP bought a new stake in shares of Sierra Bancorp in the fourth quarter valued at approximately $217,000. BNP Paribas Financial Markets grew its position in Sierra Bancorp by 121.6% during the third quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock worth $103,000 after buying an additional 1,956 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in 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 worth $31,000 after acquiring an additional 1,040 shares during the period. 55.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and issued a $44.00 target price on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Zacks Research downgraded shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Piper Sandler lowered their target price on shares of Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.00.

About Sierra Bancorp

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.