Sierra Bancorp (NASDAQ:BSRR) Stock Breaks Above 200 Day Moving Average – What’s Next?

Sierra Bancorp (NASDAQ:BSRR)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $39.14 and traded as high as $39.66. Sierra Bancorp shares last traded at $39.15, with a volume of 53,152 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. Piper Sandler lowered their price target on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.67.

Sierra Bancorp Stock Performance

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 company has a market cap of $513.09 million, a price-to-earnings ratio of 11.58 and a beta of 0.76. The stock has a 50 day moving average price of $39.99 and a two-hundred day moving average price of $39.14.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%. The company had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. Analysts predict that Sierra Bancorp will post 3.55 EPS for the current year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.27 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.26. Sierra Bancorp’s dividend payout ratio is 31.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BSRR. BlackRock Inc. bought a new stake in Sierra Bancorp in the second quarter valued at approximately $53,249,000. Jupiter Topco LLC acquired a new stake in Sierra Bancorp in the second quarter worth $17,865,000. The Manufacturers Life Insurance Company acquired a new stake in Sierra Bancorp in the second quarter worth $14,576,000. Janus Henderson Group PLC raised its holdings in Sierra Bancorp by 32.9% in the first quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider’s stock worth $11,673,000 after purchasing an additional 85,098 shares during the period. Finally, Basswood Capital Management L.L.C. bought a new position in shares of Sierra Bancorp during the second quarter worth $7,503,000. Institutional investors own 55.40% of the company’s stock.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community-focused financial institution headquartered in California. Through Bank of the Sierra, the company provides banking services to individuals, families, businesses, agricultural customers and public entities.

Its products and services include checking and savings accounts, certificates of deposit, consumer and business loans, residential and commercial real estate financing, agricultural lending, treasury management and online and mobile banking.