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Julie G. Castle Sells 976 Shares of Sierra Bancorp (NASDAQ:BSRR) Stock

Sierra Bancorp logo with Finance background

Key Points

  • Julie G. Castle, a director at Sierra Bancorp, sold 976 shares of stock at an average price of $29.25, representing a 23.48% decrease in her ownership.
  • Sierra Bancorp reported earnings per share (EPS) of $0.78 for the quarter, beating estimates, with a revenue of $39.21 million compared to analyst estimates of $38.47 million.
  • The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 3.5%, to be paid on August 14th, following an ex-dividend date of August 4th.
  • Want stock alerts on Sierra Bancorp? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Julie G. Castle sold 976 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the transaction, the director directly owned 3,181 shares in the company, valued at approximately $93,044.25. This represents a 23.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sierra Bancorp Stock Up 0.5%

NASDAQ:BSRR traded up $0.14 during mid-day trading on Friday, hitting $28.52. The company had a trading volume of 10,009 shares, compared to its average volume of 38,249. The business has a fifty day simple moving average of $29.41 and a 200-day simple moving average of $28.69. The firm has a market capitalization of $387.52 million, a price-to-earnings ratio of 9.87 and a beta of 0.79. Sierra Bancorp has a 1 year low of $22.42 and a 1 year high of $35.13. The company has a current ratio of 0.78, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its earnings results on Monday, July 28th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Sierra Bancorp had a return on equity of 11.44% and a net margin of 20.09%. The business had revenue of $39.21 million for the quarter, compared to the consensus estimate of $38.47 million. Equities analysts forecast that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.00 annualized dividend and a yield of 3.5%. Sierra Bancorp's payout ratio is 34.60%.

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Sierra Bancorp during the second quarter valued at about $71,000. State of Tennessee Department of Treasury purchased a new position in Sierra Bancorp in the fourth quarter valued at about $137,000. CWM LLC grew its stake in Sierra Bancorp by 15.1% during the 1st quarter. CWM LLC now owns 4,920 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 647 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Sierra Bancorp by 11.3% during the 4th quarter. MetLife Investment Management LLC now owns 8,249 shares of the financial services provider's stock worth $239,000 after purchasing an additional 838 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Sierra Bancorp by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 1,664 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Sierra Bancorp from $32.00 to $31.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut Sierra Bancorp from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, DA Davidson dropped their target price on shares of Sierra Bancorp from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th.

Get Our Latest Stock Analysis on Sierra Bancorp

Sierra Bancorp Company Profile

(Get Free Report)

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.

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