Hugh Boyle Sells 10,000 Shares of Sierra Bancorp (NASDAQ:BSRR) Stock

Sierra Bancorp (NASDAQ:BSRR) EVP Hugh Boyle sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $38.21, for a total transaction of $382,100.00. Following the transaction, the executive vice president directly owned 21,781 shares in the company, valued at $832,252.01. This trade represents a 31.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Sierra Bancorp Trading Down 0.9%

NASDAQ BSRR opened at $37.98 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $496.78 million, a price-to-earnings ratio of 11.07 and a beta of 0.76. The company’s 50-day simple moving average is $36.10 and its two-hundred day simple moving average is $34.62. Sierra Bancorp has a one year low of $26.49 and a one year high of $39.00.

Sierra Bancorp (NASDAQ:BSRR) last issued 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. 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 the consensus estimate of $39.68 million. Equities analysts forecast that Sierra Bancorp will post 3.73 EPS for the current fiscal year.

Sierra Bancorp Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Sierra Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in Sierra Bancorp by 32.9% in the 1st quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider’s stock worth $11,673,000 after acquiring an additional 85,098 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Sierra Bancorp by 24.3% in the 1st quarter. Quantinno Capital Management LP now owns 24,825 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 4,858 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Sierra Bancorp in the 1st quarter worth $358,000. Arrowstreet Capital Limited Partnership increased its holdings in Sierra Bancorp by 19.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 98,619 shares of the financial services provider’s stock worth $3,345,000 after acquiring an additional 15,877 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Sierra Bancorp in the 1st quarter worth $284,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.