Sierra Bancorp (NASDAQ:BSRR – Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $38.67 and last traded at $38.6910, with a volume of 7575 shares traded. The stock had previously closed at $37.90.
Analyst Ratings Changes
Several brokerages have recently issued reports on BSRR. Zacks Research lowered shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. DA Davidson restated a “buy” rating and set a $44.00 price target on shares of Sierra Bancorp in a research note on Tuesday, April 28th. Piper Sandler decreased their price target 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.00.
Read Our Latest Report on BSRR
Sierra Bancorp Stock Performance
Sierra Bancorp (NASDAQ:BSRR – Get Free Report) last announced its earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, beating 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 analyst estimates of $39.68 million. On average, equities research analysts forecast that Sierra Bancorp will post 3.73 EPS for the current 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, May 4th. Sierra Bancorp’s dividend payout ratio (DPR) is presently 30.32%.
Insiders Place Their Bets
In other Sierra Bancorp news, Director Vonn R. Christenson sold 3,947 shares of Sierra Bancorp stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.05, for a total value of $150,183.35. Following the completion of the transaction, the director directly owned 189 shares of the company’s stock, valued at $7,191.45. This trade represents a 95.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 11.83% of the company’s stock.
Hedge Funds Weigh In On Sierra Bancorp
A number of large investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Sierra Bancorp during the 2nd quarter worth approximately $26,000. Russell Investments Group Ltd. grew its position 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. Tower Research Capital LLC TRC grew its position in Sierra Bancorp by 57.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 829 shares during the last quarter. BNP Paribas Financial Markets grew its position in Sierra Bancorp by 121.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,956 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Sierra Bancorp during the 4th quarter worth approximately $153,000. 55.40% of the stock is owned by hedge funds and other institutional investors.
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.
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