Insider Selling: Sierra Bancorp (NASDAQ:BSRR) CFO Sells $381,800.00 in Stock

Sierra Bancorp (NASDAQ:BSRR) CFO Christopher Treece sold 10,000 shares of Sierra Bancorp stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $38.18, for a total transaction of $381,800.00. Following the completion of the sale, the chief financial officer owned 39,095 shares in the company, valued at $1,492,647.10. This trade represents a 20.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sierra Bancorp Stock Performance

Shares of BSRR opened at $38.19 on Monday. The stock has a market capitalization of $499.53 million, a price-to-earnings ratio of 11.13 and a beta of 0.76. Sierra Bancorp has a 12 month low of $26.49 and a 12 month high of $38.87. The firm has a fifty day simple moving average of $35.55 and a 200 day simple moving average of $34.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.14. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. The firm had revenue of $38.66 million for the quarter, compared to analyst estimates of $39.68 million. Research analysts forecast that Sierra Bancorp will post 3.73 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. Sierra Bancorp’s payout ratio is currently 30.32%.

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BSRR. Raymond James Financial Inc. acquired a new stake in Sierra Bancorp in the 2nd quarter valued at about $26,000. Russell Investments Group Ltd. increased its position in Sierra Bancorp by 3,714.3% during the third quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,040 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Sierra Bancorp by 57.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock worth $67,000 after buying an additional 829 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Sierra Bancorp by 121.6% in the third quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,956 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Sierra Bancorp in the fourth quarter valued at approximately $153,000. 55.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Piper Sandler lowered their price target on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research note on Friday, March 27th. Finally, DA Davidson reissued a “buy” rating and issued a $44.00 price objective on shares of Sierra Bancorp in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.00.

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.