Sierra Bancorp (NASDAQ:BSRR) Shares Gap Down – Time to Sell?

Sierra Bancorp (NASDAQ:BSRR) gapped down before the market opened on Friday . The stock had previously closed at $41.72, but opened at $38.43. Sierra Bancorp shares last traded at $41.6320, with a volume of 6,994 shares trading hands.

Analyst Upgrades and Downgrades

BSRR has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Zacks Research cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Piper Sandler cut their price target on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, DA Davidson reissued a “buy” rating and issued a $44.00 price target on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Two 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 currently has an average rating of “Hold” and a consensus price target of $37.00.

Sierra Bancorp Trading Up 1.1%

The firm has a market capitalization of $551.91 million, a PE ratio of 12.30 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $39.91 and its 200 day simple moving average is $36.99.

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. The firm had revenue of $38.66 million for the quarter, compared to the consensus estimate of $39.68 million. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. As a group, sell-side analysts expect that Sierra Bancorp will post 3.73 EPS for the current year.

Insider Buying and Selling at Sierra Bancorp

In other news, CFO Christopher G. Treece sold 10,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.18, for a total transaction of $381,800.00. Following the transaction, the chief financial officer directly owned 39,095 shares of the company’s stock, valued at approximately $1,492,647.10. This represents a 20.37% 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, EVP Hugh F. Boyle sold 10,000 shares of the company’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 transaction, the executive vice president directly owned 21,781 shares in the company, valued at approximately $832,252.01. The trade was a 31.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,000 shares of company stock worth $954,108 over the last three months. Corporate insiders own 11.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its stake in Sierra Bancorp by 2.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 17,871 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 480 shares during the last quarter. Rhumbline Advisers grew its stake in Sierra Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 527 shares during the last quarter. Panagora Asset Management Inc. grew its stake in 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 valued at $1,575,000 after purchasing an additional 548 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Sierra Bancorp by 1.2% in the second quarter. First Trust Advisors LP now owns 47,970 shares of the financial services provider’s stock valued at $1,424,000 after purchasing an additional 577 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Sierra Bancorp by 6.9% in the fourth 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 period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.