Sierra Bancorp (NASDAQ:BSRR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 132,500 shares, an increase of 24.8% from the December 15th total of 106,200 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 31,800 shares, the short-interest ratio is currently 4.2 days.
In other news, Director James C. Holly sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $26.81, for a total transaction of $134,050.00. Following the completion of the transaction, the director now directly owns 381,476 shares of the company’s stock, valued at approximately $10,227,371.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James F. Gardunio sold 3,162 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $27.77, for a total transaction of $87,808.74. Following the transaction, the executive vice president now directly owns 838 shares of the company’s stock, valued at $23,271.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,162 shares of company stock valued at $363,809. Corporate insiders own 10.34% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BSRR. Wells Fargo & Company MN grew its stake in Sierra Bancorp by 23.3% in the 2nd quarter. Wells Fargo & Company MN now owns 31,963 shares of the financial services provider’s stock worth $867,000 after acquiring an additional 6,039 shares during the period. Prudential Financial Inc. purchased a new stake in Sierra Bancorp in the 2nd quarter worth approximately $338,000. Charles Schwab Investment Management Inc. grew its stake in Sierra Bancorp by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 33,544 shares of the financial services provider’s stock worth $910,000 after acquiring an additional 1,289 shares during the period. Renaissance Technologies LLC grew its stake in Sierra Bancorp by 0.7% in the 2nd quarter. Renaissance Technologies LLC now owns 381,631 shares of the financial services provider’s stock worth $10,350,000 after acquiring an additional 2,500 shares during the period. Finally, Northern Trust Corp grew its stake in Sierra Bancorp by 1.3% in the 2nd quarter. Northern Trust Corp now owns 456,485 shares of the financial services provider’s stock worth $12,380,000 after acquiring an additional 5,825 shares during the period. 54.49% of the stock is owned by hedge funds and other institutional investors.
Shares of BSRR opened at $28.16 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $28.37 and a 200-day simple moving average of $26.74. Sierra Bancorp has a 1-year low of $22.67 and a 1-year high of $30.15. The stock has a market cap of $427.43 million, a price-to-earnings ratio of 14.67 and a beta of 0.95.
Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, October 21st. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The firm had revenue of $30.24 million during the quarter, compared to analysts’ expectations of $29.82 million. Sierra Bancorp had a net margin of 25.98% and a return on equity of 11.95%. On average, equities analysts expect that Sierra Bancorp will post 2.28 earnings per share for the current fiscal year.
BSRR has been the subject of a number of recent research reports. BidaskClub cut shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised shares of Sierra Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Zacks Investment Research raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.50.
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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.
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