Sierra Bancorp (NASDAQ:BSRR) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Sierra Bancorp shares rose above their 200-day moving average, reaching $39.43 and last trading at $39.32, compared with a 200-day average of $38.88.
• Analysts remain generally cautious, with an average rating of “Hold” and a consensus price target of $38.67; the company recently missed quarterly earnings and revenue estimates.
• Sierra Bancorp increased its quarterly dividend to $0.27 per share, implying an annualized dividend of $1.08 and a 2.7% yield, while institutional investors own 55.4% of the stock.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.88 and traded as high as $39.43. Sierra Bancorp shares last traded at $39.32, with a volume of 40,860 shares trading hands.

Analyst Ratings Changes

Several equities analysts have issued reports on BSRR shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sierra Bancorp in a report on Monday, September 21st. Piper Sandler reduced their target price on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.67.

Sierra Bancorp Trading Down 0.4%

The business's 50-day moving average price is $40.17 and its 200-day moving average price is $38.88. The firm has a market capitalization of $509.59 million, a PE ratio of 11.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.12). The business had revenue of $38.98 million during the quarter, compared to analysts' expectations of $39.59 million. Sierra Bancorp had a net margin of 22.37% and a return on equity of 12.38%. As a group, analysts expect that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Sierra Bancorp's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. Sierra Bancorp's dividend payout ratio is currently 31.58%.

Hedge Funds Weigh In On Sierra Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in BSRR. BlackRock Inc. purchased a new stake in Sierra Bancorp during the 2nd quarter valued at approximately $53,249,000. Jupiter Topco LLC acquired a new position in shares of Sierra Bancorp in the second quarter valued at approximately $17,865,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sierra Bancorp in the second quarter valued at approximately $14,576,000. Janus Henderson Group PLC raised its stake in shares of 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 last quarter. Finally, Basswood Capital Management L.L.C. acquired a new stake in shares of Sierra Bancorp during the second quarter worth $7,503,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Sierra Bancorp Company Profile

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community-focused financial institution headquartered in California. Through Bank of the Sierra, the company provides banking services to individuals, families, businesses, agricultural customers and public entities.

Its products and services include checking and savings accounts, certificates of deposit, consumer and business loans, residential and commercial real estate financing, agricultural lending, treasury management and online and mobile banking.

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