Insider Selling: Sierra Bancorp (NASDAQ:BSRR) Director Sells 12,725 Shares of Stock

Key Points

• Director Lynda Scearcy sold 12,725 Sierra Bancorp shares at an average of $41.75, totaling about $531,269; the sale reduced her stake by 78.2% to 3,548 shares.
• Sierra Bancorp reported quarterly earnings of $1.18 per share, beating the $0.91 analyst consensus, while revenue of $40.08 million also topped estimates.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $43.83. The company announced a quarterly dividend of $0.27 per share, equivalent to a 2.6% yield.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Lynda Scearcy sold 12,725 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $41.75, for a total value of $531,268.75. Following the sale, the director owned 3,548 shares of the company's stock, valued at $148,129. This trade represents a 78.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Lynda Scearcy also recently made the following trade(s):

• On Friday, November 6th, Lynda Scearcy sold 5,300 shares of Sierra Bancorp stock. The stock was sold at an average price of $41.46, for a total value of $219,738.00.
• On Tuesday, November 3rd, Lynda Scearcy sold 8,010 shares of Sierra Bancorp stock. The stock was sold at an average price of $42.15, for a total value of $337,621.50.
• On Thursday, October 29th, Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock. The stock was sold at an average price of $42.34, for a total value of $247,689.00.

Sierra Bancorp Trading Up 1.2%

Shares of Sierra Bancorp stock traded up $0.50 on Monday, reaching $41.92. 67,993 shares of the company were exchanged, compared to its average volume of 63,686. Sierra Bancorp has a fifty-two week low of $28.35 and a fifty-two week high of $44.00. The firm has a market capitalization of $543.53 million, a price-to-earnings ratio of 10.80 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $40.40 and a 200-day moving average price of $38.42.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last released its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.27. The business had revenue of $40.08 million during the quarter, compared to analyst estimates of $39.23 million. Sierra Bancorp had a return on equity of 13.89% and a net margin of 25.32%. On average, analysts expect that Sierra Bancorp will post 3.86 EPS for the current year.

Sierra Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 2nd. Sierra Bancorp's payout ratio is 27.84%.

Institutional Investors Weigh In On Sierra Bancorp

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in Sierra Bancorp in the second quarter worth approximately $45,000. Ameritas Advisory Services LLC bought a new stake in Sierra Bancorp in the second quarter worth approximately $94,000. Integrated Wealth Concepts LLC bought a new stake in Sierra Bancorp in the second quarter worth approximately $94,000. Public Employees Retirement System of Ohio bought a new stake in Sierra Bancorp in the second quarter worth approximately $149,000. Finally, Corient Private Wealth LP acquired a new position in shares of Sierra Bancorp during the 2nd quarter worth $216,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Sierra Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, November 2nd. Keefe, Bruyette & Woods increased their target price on shares of Sierra Bancorp from $42.00 to $44.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 3rd. Piper Sandler decreased their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Zacks Research raised shares of Sierra Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. Finally, Raymond James Financial restated a "market perform" rating on shares of Sierra Bancorp in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.83.

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.

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