Sierra Bancorp (NASDAQ:BSRR) Reaches New 52-Week High – Here’s What Happened

Shares of Sierra Bancorp (NASDAQ:BSRR) hit a new 52-week high during trading on Wednesday . The company traded as high as $38.60 and last traded at $38.4090, with a volume of 7017 shares traded. The stock had previously closed at $38.01.

Wall Street Analyst Weigh In

A number of research firms recently commented on BSRR. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price objective on Sierra Bancorp from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, DA Davidson lifted their price target on shares of Sierra Bancorp from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Sierra Bancorp presently has an average rating of “Buy” and an average price target of $38.50.

Sierra Bancorp Stock Performance

The stock has a fifty day moving average of $34.97 and a 200-day moving average of $31.51. The firm has a market capitalization of $499.28 million, a P/E ratio of 12.03 and a beta of 0.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, February 2nd. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. Sierra Bancorp had a return on equity of 11.90% and a net margin of 20.96%.The firm had revenue of $39.16 million during the quarter, compared to the consensus estimate of $40.04 million. On average, research analysts anticipate that Sierra Bancorp will post 2.95 EPS for the current year.

Sierra Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $0.26 per share. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.04 annualized dividend and a yield of 2.8%. Sierra Bancorp’s payout ratio is presently 33.33%.

Insider Buying and Selling at Sierra Bancorp

In related news, CAO Cindy L. Dabney sold 3,443 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $32.00, for a total transaction of $110,176.00. Following the completion of the transaction, the chief accounting officer directly owned 6,465 shares of the company’s stock, valued at approximately $206,880. This represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Julie G. Castle sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the completion of the transaction, the director owned 2,431 shares of the company’s stock, valued at approximately $92,207.83. This represents a 23.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,143 shares of company stock valued at $536,022. Corporate insiders own 11.86% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. raised its stake in Sierra Bancorp by 2.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 17,871 shares of the financial services provider’s stock valued at $517,000 after buying an additional 480 shares during the period. Rhumbline Advisers increased its holdings in shares of Sierra Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 527 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Sierra Bancorp by 1.2% during the 4th quarter. Panagora Asset Management Inc. now owns 48,191 shares of the financial services provider’s stock worth $1,575,000 after acquiring an additional 548 shares during the last quarter. First Trust Advisors LP raised its stake in Sierra Bancorp by 1.2% in the 2nd quarter. First Trust Advisors LP now owns 47,970 shares of the financial services provider’s stock valued at $1,424,000 after acquiring an additional 577 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Sierra Bancorp by 6.9% during the 4th quarter. Franklin Resources Inc. now owns 10,240 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 662 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

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.