Sierra Bancorp (NASDAQ:BSRR) Stock Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Sierra Bancorp shares rose above their 200-day moving average, reaching $39.92 before last trading at $39.17, compared with a 200-day average of $38.61.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $38.67, while recent quarterly earnings of $0.77 per share fell short of the $0.89 estimate.
• The company increased its quarterly dividend to $0.27 per share, implying a $1.08 annual payout and a 2.8% yield; institutional investors own 55.4% of the stock.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $38.61 and traded as high as $39.92. Sierra Bancorp shares last traded at $39.17, with a volume of 34,979 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BSRR shares. Piper Sandler decreased their target price on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Weiss Ratings restated 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $38.67.

Sierra Bancorp Price Performance

The company's fifty day moving average price is $40.42 and its 200 day moving average price is $38.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $507.64 million, a price-to-earnings ratio of 11.45 and a beta of 0.76.

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

Sierra Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 3rd. This is a positive change from Sierra Bancorp's previous quarterly dividend of $0.26. Sierra Bancorp's payout ratio is currently 31.58%.

Institutional Trading of Sierra Bancorp

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Sierra Bancorp during the 2nd quarter worth $53,249,000. Jupiter Topco LLC bought a new stake in Sierra Bancorp in the second quarter valued at $17,865,000. The Manufacturers Life Insurance Company bought a new stake in Sierra Bancorp in the second quarter valued at $14,576,000. Basswood Capital Management L.L.C. bought a new stake in Sierra Bancorp in the second quarter valued at $7,503,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sierra Bancorp during the second quarter valued at $3,780,000. Institutional investors own 55.40% of the company's stock.

About Sierra Bancorp

Sierra Bancorp is a bank holding company headquartered in Porterville, California. Its principal subsidiary, Bank of the Sierra, provides banking and financial services to individuals, families, businesses, agricultural customers and nonprofit organizations.

Bank of the Sierra offers deposit accounts, consumer and commercial loans, residential and agricultural lending, small business financing, mortgage services and cash-management solutions. The bank also provides digital banking tools, wealth management and trust services, and other financial products designed for personal and business customers.

Founded in 1977, Sierra Bancorp serves communities primarily throughout California's Central Valley and Central Coast, with a particular focus on markets supported by agriculture, small businesses and local industries.

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