Sierra Bancorp (NASDAQ:BSRR) CFO Christopher Treece Sells 4,000 Shares of Stock

Sierra Bancorp (NASDAQ:BSRR) CFO Christopher Treece sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $42.51, for a total value of $170,040.00. Following the completion of the sale, the chief financial officer owned 35,095 shares in the company, valued at approximately $1,491,888.45. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Sierra Bancorp Stock Down 1.2%

Shares of BSRR opened at $41.90 on Friday. The firm has a market capitalization of $543.02 million, a P/E ratio of 10.80 and a beta of 0.76. Sierra Bancorp has a 12-month low of $27.93 and a 12-month high of $44.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $40.15 and a 200-day moving average price of $38.23.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.27. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. The company had revenue of $40.08 million during the quarter, compared to analyst estimates of $39.23 million. Equities research analysts expect that Sierra Bancorp will post 3.86 earnings per share for the current year.

Sierra Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.6%. Sierra Bancorp’s dividend payout ratio is presently 27.84%.

Institutional Investors Weigh In On Sierra Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Sierra Bancorp in the 2nd quarter valued at approximately $385,000. Engineers Gate Manager LP acquired a new position in shares of Sierra Bancorp in the 2nd quarter valued at $375,000. Integrated Wealth Concepts LLC acquired a new position in shares of Sierra Bancorp in the 2nd quarter valued at $94,000. Corient Private Wealth LP purchased a new position in Sierra Bancorp in the 2nd quarter worth $219,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Sierra Bancorp during the 2nd quarter worth about $94,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Trending Headlines about Sierra Bancorp

Here are the key news stories impacting Sierra Bancorp this week:

• Positive Sentiment: Zacks upgraded Sierra Bancorp from “Hold” to “Strong Buy,” adding a notable bullish catalyst for the stock. BSRR was also included on Zacks’ Rank #1 momentum and Strong Buy lists. Best Momentum Stocks to Buy for October 29th
• Positive Sentiment: DA Davidson raised its price target to $48.50 and maintained a Buy rating, implying additional upside from recent trading levels. However, the broader analyst consensus remains Hold with an average target of $43.75. Sierra Bancorp Stock Price Expected to Rise, DA Davidson Analyst Says
• Positive Sentiment: Recent quarterly results exceeded expectations: earnings per share were $1.18 versus a $0.91 estimate, while revenue reached $40.08 million compared with expectations of $39.23 million. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 2.5% indicated yield.
• Positive Sentiment: Institutional ownership stands at 55.4%, with major investors including BlackRock, Jupiter Topco and Manufacturers Life Insurance recently establishing positions. This may provide longer-term institutional support.
• Negative Sentiment: CEO Kevin Mcphaill sold 4,000 shares for approximately $171,400, reducing his direct ownership by 5.9%. Director Lynda Scearcy separately sold 5,850 shares, cutting her position by 19.4%. Multiple insider sales can create short-term caution, although the transactions do not necessarily indicate a change in business outlook. Sierra Bancorp Insider Buying and Selling

Analyst Ratings Changes

A number of research firms have commented on BSRR. Zacks Research raised shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. DA Davidson lifted their price objective on shares of Sierra Bancorp from $47.00 to $48.50 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler reduced their price objective on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a report on Monday, September 21st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Sierra Bancorp in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.