Sierra Bancorp (NASDAQ:BSRR) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Sierra Bancorp (NASDAQ:BSRR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.71 and traded as high as $30.39. Sierra Bancorp shares last traded at $29.76, with a volume of 61,745 shares.

Wall Street Analyst Weigh In

BSRR has been the subject of several research analyst reports. StockNews.com lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Sierra Bancorp Stock Performance

The business has a fifty day moving average of $29.81 and a 200-day moving average of $29.71. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The company has a market cap of $428.37 million, a PE ratio of 10.59 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. Equities research analysts anticipate that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.36%. Sierra Bancorp’s dividend payout ratio is 35.59%.

Insider Activity at Sierra Bancorp

In related news, EVP Michael Olague sold 3,563 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $31.15, for a total value of $110,987.45. Following the transaction, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at approximately $386,540.35. This represents a 22.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julie G. Castle sold 1,104 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now directly owns 4,157 shares in the company, valued at $133,024. This trade represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,668 shares of company stock valued at $146,346. 11.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Sierra Bancorp by 24.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,000 shares of the financial services provider’s stock valued at $2,137,000 after buying an additional 14,335 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Sierra Bancorp during the 3rd quarter valued at $29,000. Los Angeles Capital Management LLC lifted its holdings in shares of Sierra Bancorp by 21.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 46,013 shares of the financial services provider’s stock valued at $1,329,000 after buying an additional 8,033 shares during the period. Empowered Funds LLC lifted its holdings in shares of Sierra Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 74,994 shares of the financial services provider’s stock valued at $2,166,000 after buying an additional 3,752 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Sierra Bancorp during the 3rd quarter valued at $1,146,000. 55.40% of the stock is owned by institutional investors.

About Sierra Bancorp

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.