Insider Selling: Sierra Bancorp (NASDAQ:BSRR) CFO Sells $170,040.00 in Stock

Key Points

• Sierra Bancorp CFO Christopher Treece sold 4,000 shares at an average price of $42.51, generating $170,040 and reducing his direct ownership by 10.23% to 35,095 shares.
• The company reported stronger-than-expected quarterly results, with EPS of $1.18 versus the $0.91 consensus and revenue of $40.08 million versus $39.23 million expected. Sierra Bancorp also declared a quarterly dividend of $0.27 per share.
• Shares fell 1.2% to $41.90, while analyst sentiment remained positive overall, with a “Moderate Buy” consensus and an average price target of $43.75; however, additional insider selling may create near-term investor caution.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) CFO Christopher Treece sold 4,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.51, for a total transaction of $170,040.00. Following the sale, the chief financial officer directly owned 35,095 shares in the company, valued at $1,491,888.45. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sierra Bancorp Stock Down 1.2%

NASDAQ BSRR traded down $0.53 on Friday, reaching $41.90. The stock had a trading volume of 69,366 shares, compared to its average volume of 62,669. Sierra Bancorp has a 1 year low of $27.93 and a 1 year high of $44.00. The company has a market capitalization of $543.02 million, a price-to-earnings ratio of 10.80 and a beta of 0.76. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $40.10 and a 200 day moving average price of $38.19.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its earnings results on Monday, October 26th. The financial services provider reported $1.18 EPS for the quarter, topping 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%. On average, analysts forecast that Sierra Bancorp will post 3.86 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be paid a $0.27 dividend. 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 (DPR) is 27.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSRR. DA Davidson lifted 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 reissued a "buy (b)" rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Raymond James Financial restated a "market perform" rating on shares of Sierra Bancorp in a research note on Monday. Zacks Research raised shares of Sierra Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Piper Sandler decreased their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.75.

Hedge Funds Weigh In On Sierra Bancorp

Several hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Sierra Bancorp in the second quarter valued at approximately $385,000. Engineers Gate Manager LP acquired a new position in Sierra Bancorp during the 2nd quarter worth about $375,000. Integrated Wealth Concepts LLC bought a new stake in Sierra Bancorp in the second quarter valued at $94,000. Corient Private Wealth LP purchased a new stake in shares of Sierra Bancorp during the second quarter valued at approximately $219,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Sierra Bancorp during the second quarter worth $94,000. Institutional investors and hedge funds own 55.40% of the company's stock.

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

About Sierra Bancorp

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.

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