Sierra Bancorp (NASDAQ:BSRR) Sets New 52-Week High – Should You Buy?

Shares of Sierra Bancorp (NASDAQ:BSRR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $41.78 and last traded at $41.68, with a volume of 33741 shares. The stock had previously closed at $40.76.

Wall Street Analyst Weigh In

BSRR has been the subject of several research reports. Piper Sandler dropped their price objective on shares of Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Zacks Research cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. DA Davidson reiterated a “buy” rating and set a $44.00 price objective on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Two research 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 has an average rating of “Hold” and a consensus price target of $37.00.

Sierra Bancorp Stock Performance

The firm has a market capitalization of $545.17 million, a PE ratio of 12.15 and a beta of 0.76. 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 firm has a 50-day moving average price of $38.44 and a 200 day moving average price of $36.09.

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

Sierra Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.04 dividend on an annualized basis and a yield of 2.5%. Sierra Bancorp’s dividend payout ratio (DPR) is currently 30.32%.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, EVP Hugh F. Boyle sold 10,000 shares of Sierra Bancorp stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $38.21, for a total transaction of $382,100.00. Following the completion of the sale, the executive vice president directly owned 21,781 shares of the company’s stock, valued at $832,252.01. The trade was a 31.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vonn R. Christenson sold 1,053 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.01, for a total value of $40,024.53. Following the sale, the director owned 189 shares of the company’s stock, valued at approximately $7,183.89. The trade was a 84.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,000 shares of company stock valued at $954,108 over the last 90 days. 11.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Sierra Bancorp in the 2nd quarter valued at about $26,000. Russell Investments Group Ltd. lifted its holdings in shares of Sierra Bancorp by 3,714.3% during the third quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,040 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Sierra Bancorp by 57.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 829 shares in the last quarter. BNP Paribas Financial Markets increased its position in 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 worth $103,000 after purchasing an additional 1,956 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Sierra Bancorp during the fourth quarter worth $153,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Sierra Bancorp Company Profile

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.