Sierra Bancorp (NASDAQ:BSRR) Stock: Insider Lynda Scearcy Sells 5,850 Shares

Sierra Bancorp (NASDAQ:BSRR) Director Lynda Scearcy sold 5,850 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $42.34, for a total transaction of $247,689.00. Following the sale, the director directly owned 24,283 shares of the company’s stock, valued at $1,028,142.22. This trade represents a 19.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sierra Bancorp Price Performance

Shares of NASDAQ BSRR opened at $41.90 on Friday. The firm has a market cap of $543.02 million, a P/E ratio of 10.80 and a beta of 0.76. Sierra Bancorp has a twelve month low of $27.93 and a twelve month high of $44.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $40.15 and a 200 day moving average of $38.23.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, October 26th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $0.91 by $0.27. The business had revenue of $40.08 million for the quarter, compared to the consensus estimate of $39.23 million. Sierra Bancorp had a return on equity of 13.86% and a net margin of 25.32%. As a group, research analysts expect that Sierra Bancorp will post 3.86 EPS for the current fiscal year.

Sierra Bancorp Dividend Announcement

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

Institutional Trading of Sierra Bancorp

Large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new position in shares of Sierra Bancorp during the 2nd quarter worth $385,000. Engineers Gate Manager LP bought a new stake in shares of Sierra Bancorp during the 2nd quarter valued at $375,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Sierra Bancorp in the 2nd quarter worth $94,000. Corient Private Wealth LP purchased a new stake in shares of Sierra Bancorp in the 2nd quarter worth $219,000. Finally, Ameritas Advisory Services LLC bought a new position in Sierra Bancorp in the 2nd quarter worth $94,000. 55.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BSRR has been the subject of several research analyst reports. Piper Sandler reduced their price objective on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. DA Davidson upped their target price on shares of Sierra Bancorp from $47.00 to $48.50 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Raymond James Financial reaffirmed a “market perform” rating on shares of Sierra Bancorp in a report on Monday. Finally, Zacks Research upgraded shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.75.

More Sierra Bancorp News

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

Sierra Bancorp Company Profile

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.