Sierra Bancorp (NASDAQ:BSRR) Director Sells $337,621.50 in Stock

Key Points

• Director Lynda Scearcy sold 8,010 Sierra Bancorp shares for about $337,622, reducing her stake by 32.99% to 16,273 shares. She had also sold 5,850 shares on October 29.
• Sierra Bancorp reported quarterly earnings of $1.18 per share, beating the $0.91 analyst consensus; revenue of $40.08 million also exceeded estimates.
• The company announced a quarterly dividend of $0.27 per share, equivalent to $1.08 annually and a 2.5% yield. Analysts’ average rating was “Moderate Buy,” with an average price target of $43.83.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) Director Lynda Scearcy sold 8,010 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $42.15, for a total value of $337,621.50. Following the completion of the sale, the director owned 16,273 shares of the company's stock, valued at $685,906.95. The trade was a 32.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, October 29th, Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock. The shares were sold at an average price of $42.34, for a total value of $247,689.00.

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock traded up $0.58 during trading hours on Wednesday, hitting $42.59. The company's stock had a trading volume of 23,505 shares, compared to its average volume of 62,876. The business has a 50 day moving average price of $40.25 and a two-hundred day moving average price of $38.31. Sierra Bancorp has a 12-month low of $28.35 and a 12-month high of $44.00. The company has a market cap of $552.38 million, a PE ratio of 10.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 0.81.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.27. Sierra Bancorp had a return on equity of 13.89% and a net margin of 25.32%. The firm had revenue of $40.08 million during the quarter, compared to analyst estimates of $39.23 million. Analysts expect that Sierra Bancorp will post 3.86 earnings per share for the current fiscal 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 given a dividend of $0.27 per share. The ex-dividend date is Monday, November 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.5%. Sierra Bancorp's dividend payout ratio (DPR) is presently 27.84%.

Institutional Trading of Sierra Bancorp

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Sierra Bancorp during the 2nd quarter valued at $53,249,000. Jupiter Topco LLC purchased a new position in Sierra Bancorp during the second quarter worth $17,865,000. The Manufacturers Life Insurance Company bought a new position in Sierra Bancorp during the second quarter valued at $14,576,000. Janus Henderson Group PLC increased 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 valued at $11,673,000 after acquiring an additional 85,098 shares during the last quarter. Finally, Basswood Capital Management L.L.C. bought a new position in Sierra Bancorp during the second quarter valued at $7,503,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSRR has been the subject of a number of research reports. Piper Sandler dropped 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 report on Monday, August 3rd. Raymond James Financial reiterated a "market perform" rating on shares of Sierra Bancorp in a report on Monday, October 26th. DA Davidson boosted their price target on shares of Sierra Bancorp from $47.00 to $48.50 and gave the stock a "buy" rating in a research note on Tuesday, October 27th. Zacks Research raised shares of Sierra Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Sierra Bancorp from $42.00 to $44.00 and gave the company a "market perform" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.