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

Key Points

• Sierra Bancorp shares moved above their 200-day moving average, reaching $41.21 before closing at $40.84, compared with a 200-day average of $38.23.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, resulting in a consensus Hold rating and a $38.67 price target.
• The company missed quarterly earnings expectations, reporting $0.77 in EPS versus $0.89 expected, but increased its quarterly dividend to $0.27 per share, equivalent to a 2.6% annual yield.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.23 and traded as high as $41.21. Sierra Bancorp shares last traded at $40.84, with a volume of 38,948 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Sierra Bancorp in a report on Wednesday, June 24th. Piper Sandler decreased their price target 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.67.

Sierra Bancorp Price Performance

The company has a fifty day simple moving average of $40.72 and a 200 day simple moving average of $38.23. The stock has a market capitalization of $529.29 million, a price-to-earnings ratio of 11.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.

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

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 2.6%. This is a boost from Sierra Bancorp's previous quarterly dividend of $0.26. Sierra Bancorp's payout ratio is currently 31.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Sierra Bancorp during the second quarter worth $53,249,000. Jupiter Topco LLC bought a new stake in Sierra Bancorp during the second quarter valued at $17,865,000. The Manufacturers Life Insurance Company bought a new stake in Sierra Bancorp during the second quarter valued at $14,576,000. Basswood Capital Management L.L.C. acquired a new stake in Sierra Bancorp during the 2nd quarter worth about $7,503,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Sierra Bancorp in the 2nd quarter worth about $3,780,000. Institutional investors and hedge funds 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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