Sierra Bancorp (NASDAQ:BSRR) Sets New 1-Year High – Still a Buy?

Sierra Bancorp (NASDAQ:BSRR) reached a new 52-week high during trading on Friday . The company traded as high as $39.45 and last traded at $39.3170, with a volume of 15960 shares changing hands. The stock had previously closed at $38.91.

Wall Street Analysts Forecast Growth

BSRR has been the subject of several recent analyst reports. Zacks Research downgraded Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a report on Friday, March 27th. DA Davidson restated a “buy” rating and issued a $44.00 price target on shares of Sierra Bancorp in a report on Tuesday, April 28th. Finally, Piper Sandler lowered their price target on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sierra Bancorp presently has an average rating of “Hold” and a consensus price target of $37.00.

Sierra Bancorp Stock Up 1.7%

The firm has a fifty day simple moving average of $36.50 and a 200-day simple moving average of $34.90. The company has a market capitalization of $517.38 million, a P/E ratio of 11.53 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR) last posted 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 business had revenue of $38.66 million during the quarter, compared to the consensus estimate of $39.68 million. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%. On average, equities research analysts expect that Sierra Bancorp will post 3.73 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.6%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 30.32%.

Insider Buying and Selling

In related news, EVP Hugh F. Boyle sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $38.21, for a total transaction of $382,100.00. Following the completion of the transaction, the executive vice president directly owned 21,781 shares in the company, valued at approximately $832,252.01. This trade represents a 31.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher G. Treece sold 10,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $381,800.00. Following the transaction, the chief financial officer owned 39,095 shares of the company’s stock, valued at approximately $1,492,647.10. The trade was a 20.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 25,000 shares of company stock worth $954,108. 11.83% of the stock is owned by corporate insiders.

Institutional Trading of Sierra Bancorp

Hedge funds have recently made changes to their positions in the business. Occudo Quantitative Strategies LP acquired a new stake in shares of Sierra Bancorp in the fourth quarter valued at approximately $217,000. BNP Paribas Financial Markets lifted its position in shares of 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 last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sierra Bancorp by 57.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock valued at $67,000 after buying an additional 829 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Sierra Bancorp by 3,714.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Sierra Bancorp during the 2nd quarter worth approximately $26,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.