Sierra Bancorp (NASDAQ:BSRR) Stock Price Passes Above 200 Day Moving Average of $23.37

Sierra Bancorp (NASDAQ:BSRR)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.37 and traded as high as $30.70. Sierra Bancorp shares last traded at $30.37, with a volume of 22,783 shares.

Wall Street Analysts Forecast Growth

BSRR has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Sierra Bancorp Stock Down 1.0 %

The business’s 50 day moving average is $28.70 and its 200 day moving average is $23.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $443.28 million, a price-to-earnings ratio of 12.55 and a beta of 0.90.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The business had revenue of $51.13 million during the quarter, compared to analysts’ expectations of $36.30 million. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. Equities analysts expect that Sierra Bancorp will post 2.76 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.24 dividend. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.16%. Sierra Bancorp’s dividend payout ratio is currently 39.67%.

Insider Transactions at Sierra Bancorp

In related news, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total transaction of $292,600.00. Following the transaction, the director now directly owns 475,060 shares of the company’s stock, valued at $13,900,255.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael Olague sold 11,660 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.45, for a total transaction of $331,727.00. Following the completion of the sale, the executive vice president now directly owns 25,132 shares of the company’s stock, valued at approximately $715,005.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Morris A. Tharp sold 10,000 shares of Sierra Bancorp stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total value of $292,600.00. Following the sale, the director now owns 475,060 shares of the company’s stock, valued at $13,900,255.60. The disclosure for this sale can be found here. Insiders sold 46,366 shares of company stock valued at $1,370,158 over the last three months. 11.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in Sierra Bancorp by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 957 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Sierra Bancorp in the 1st quarter valued at $94,000. Panagora Asset Management Inc. boosted its holdings in Sierra Bancorp by 8.2% in the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 904 shares in the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp during the fourth quarter worth $280,000. Finally, BNP Paribas Financial Markets raised its holdings in Sierra Bancorp by 118.2% during the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after buying an additional 8,243 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.