Sierra Bancorp (NASDAQ:BSRR) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Sierra Bancorp (NASDAQ:BSRR) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $38.61 and traded as high as $39.92. Sierra Bancorp shares last traded at $39.17, with a volume of 34,979 shares.

Wall Street Analysts Forecast Growth

BSRR has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.67.

Sierra Bancorp Stock Up 0.4%

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $508.03 million, a PE ratio of 11.46 and a beta of 0.76. The firm has a 50-day moving average of $40.37 and a two-hundred day moving average of $38.65.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). The firm had revenue of $38.98 million for the quarter, compared to analysts’ expectations of $39.59 million. Sierra Bancorp had a net margin of 22.37% and a return on equity of 12.38%. On average, equities research analysts forecast that Sierra Bancorp will post 3.55 EPS for the current year.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 3rd. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.26. Sierra Bancorp’s dividend payout ratio (DPR) is presently 31.58%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BSRR. BlackRock Inc. purchased a new stake in Sierra Bancorp during the second quarter worth approximately $53,249,000. Jupiter Topco LLC acquired a new position in shares of Sierra Bancorp during the 2nd quarter valued at $17,865,000. The Manufacturers Life Insurance Company purchased a new stake in Sierra Bancorp during the 2nd quarter worth $14,576,000. Janus Henderson Group PLC boosted its position in Sierra Bancorp by 32.9% during 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. acquired a new stake in Sierra Bancorp in the 2nd quarter valued at $7,503,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp is a bank holding company headquartered in Porterville, California. Its principal subsidiary, Bank of the Sierra, provides banking and financial services to individuals, families, businesses, agricultural customers and nonprofit organizations.

Bank of the Sierra offers deposit accounts, consumer and commercial loans, residential and agricultural lending, small business financing, mortgage services and cash-management solutions. The bank also provides digital banking tools, wealth management and trust services, and other financial products designed for personal and business customers.

Founded in 1977, Sierra Bancorp serves communities primarily throughout California’s Central Valley and Central Coast, with a particular focus on markets supported by agriculture, small businesses and local industries.