Sierra Bancorp (NASDAQ:BSRR) CEO Kevin Mcphaill Sells 4,000 Shares of Company Stock

Key Points

• CEO Kevin Mcphaill sold 4,000 Sierra Bancorp shares at an average price of $42.85, generating $171,400; he retains 63,807 shares valued at about $2.73 million.
• Sierra Bancorp’s stock rose 0.2% to $42.43, while the company reported quarterly EPS of $1.18, beating analyst expectations of $0.91, and revenue of $40.08 million.
• The bank declared a quarterly dividend of $0.27 per share, equivalent to $1.08 annually and a 2.5% yield. Analysts have a consensus “Hold” rating with an average price target of $43.75.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) CEO Kevin Mcphaill sold 4,000 shares of the firm's stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.85, for a total transaction of $171,400.00. Following the sale, the chief executive officer owned 63,807 shares in the company, valued at approximately $2,734,129.95. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sierra Bancorp Stock Up 0.2%

BSRR traded up $0.09 during trading on Thursday, hitting $42.43. The company had a trading volume of 126,291 shares, compared to its average volume of 62,620. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $550.02 million, a PE ratio of 10.94 and a beta of 0.76. The firm's 50-day moving average price is $40.05 and its 200 day moving average price is $38.15. Sierra Bancorp has a one year low of $27.93 and a one year high of $44.00.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its earnings results on Monday, October 26th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.27. The business had revenue of $40.08 million for the quarter, compared to analyst estimates of $39.23 million. Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%. As a group, equities analysts expect that Sierra Bancorp will post 3.55 earnings per share for the current year.

Sierra Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.27 per share. The ex-dividend date is Monday, November 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.5%. Sierra Bancorp's dividend payout ratio is currently 27.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSRR. BlackRock Inc. bought a new stake in Sierra Bancorp in the 2nd quarter valued at $53,249,000. Jupiter Topco LLC acquired a new stake in Sierra Bancorp during the 2nd quarter valued at $17,865,000. The Manufacturers Life Insurance Company acquired a new stake in Sierra Bancorp during the 2nd quarter valued at $14,576,000. Janus Henderson Group PLC boosted its position in Sierra Bancorp by 32.9% during the first quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider's stock worth $11,673,000 after purchasing an additional 85,098 shares during the period. Finally, Basswood Capital Management L.L.C. bought a new position in Sierra Bancorp during the second quarter worth $7,503,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSRR has been the topic of a number of recent analyst reports. Raymond James Financial restated a "market perform" rating on shares of Sierra Bancorp in a report on Monday. DA Davidson boosted their price objective on shares of Sierra Bancorp from $47.00 to $48.50 and gave the stock a "buy" rating in a research note on Tuesday. Piper Sandler lowered their price objective on shares of Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $43.75.

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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