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

by · The Cerbat Gem

Sierra Bancorp (NASDAQ:BSRR – Get Free Report) EVP Hugh Boyle sold 10,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the transaction, the executive vice president owned 21,781 shares in the company, valued at $832,252.01. The trade was a 31.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sierra Bancorp Price Performance

BSRR 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. Sierra Bancorp has a 12 month low of $26.49 and a 12 month high of $39.00. The business has a 50-day moving average of $35.98 and a two-hundred day moving average of $34.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $496.78 million, a price-to-earnings ratio of 11.07 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR – Get Free Report) 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. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. The business had revenue of $38.66 million during the quarter, compared to analysts’ expectations of $39.68 million. Sell-side analysts forecast that Sierra Bancorp will post 3.73 EPS for the current fiscal year.

Sierra Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 4th. This represents a $1.04 annualized dividend and a yield of 2.7%. Sierra Bancorp’s dividend payout ratio is presently 30.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new position in Sierra Bancorp during the first quarter worth $358,000. Sei Investments Co. bought a new position in shares of Sierra Bancorp during the 1st quarter worth about $284,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Sierra Bancorp in the 4th quarter valued at about $217,000. BNP Paribas Financial Markets grew its stake in shares of Sierra Bancorp by 121.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,956 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Sierra Bancorp by 3,714.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,040 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on BSRR

About Sierra Bancorp

(Get Free Report)

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.

Further Reading