Sierra Bancorp (NASDAQ:BSRR) Reaches New 1-Year High – Here’s Why

Sierra Bancorp (NASDAQ:BSRR)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $40.76 and last traded at $40.18, with a volume of 57673 shares traded. The stock had previously closed at $39.62.

Wall Street Analyst Weigh In

BSRR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Friday, March 27th. 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 cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Piper Sandler reduced their price objective on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Sierra Bancorp has a consensus rating of “Hold” and an average target price of $37.00.

Sierra Bancorp Trading Up 1.1%

The company has a market cap of $532.09 million, a P/E ratio of 11.86 and a beta of 0.77. The business has a fifty day moving average price of $37.24 and a 200-day moving average price of $35.31. 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 issued its quarterly earnings data 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. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%.The company had revenue of $38.66 million during the quarter, compared to analysts’ expectations of $39.68 million. On average, analysts forecast that Sierra Bancorp will post 3.73 earnings per share for the current year.

Sierra Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, May 4th. Sierra Bancorp’s payout ratio is currently 30.32%.

Insider Transactions at Sierra Bancorp

In related news, 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 completion of the sale, the director directly owned 189 shares in the company, valued at approximately $7,183.89. The trade was a 84.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Hugh F. Boyle sold 10,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $832,252.01. This trade represents a 31.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,000 shares of company stock worth $954,108 over the last quarter. Company insiders own 11.83% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Sierra Bancorp in the second quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its stake in shares of Sierra Bancorp by 3,714.3% in the third 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 during the period. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 829 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Sierra Bancorp by 121.6% in the third 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, SG Americas Securities LLC bought a new stake in shares of Sierra Bancorp in the fourth quarter valued at approximately $153,000. 55.40% of the stock is currently owned by 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.