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Sierra Bancorp (NASDAQ:BSRR) Stock Passes Above Two Hundred Day Moving Average Following Insider Selling

Sierra Bancorp logo with Finance background

Key Points

  • Sierra Bancorp's stock price crossed above its 200-day moving average at $28.66 after an insider purchased additional shares, with the stock closing at $28.44.
  • The company recently reported quarterly earnings of $0.78 per share, exceeding estimates, alongside a dividend declaration of $0.25 per share, equating to a 3.5% yield.
  • Multiple research firms have downgraded Sierra Bancorp's stock, with targets now set between $31.00 and $36.00, indicating a cautious outlook compared to previous ratings.
  • Looking to export and analyze Sierra Bancorp data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shares of Sierra Bancorp (NASDAQ:BSRR - Get Free Report) crossed above its two hundred day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a two hundred day moving average of $28.66 and traded as high as $28.74. Sierra Bancorp shares last traded at $28.44, with a volume of 19,427 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on BSRR. Wall Street Zen downgraded Sierra Bancorp from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lowered their price target on Sierra Bancorp from $32.00 to $31.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Finally, DA Davidson lowered their price target on Sierra Bancorp from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th.

Check Out Our Latest Research Report on Sierra Bancorp

Sierra Bancorp Stock Performance

The business has a 50 day moving average of $29.46 and a 200 day moving average of $28.66. The company has a market capitalization of $386.50 million, a P/E ratio of 9.84 and a beta of 0.79. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $39.21 million during the quarter, compared to analyst estimates of $38.47 million. Sierra Bancorp had a return on equity of 11.44% and a net margin of 20.09%. On average, sell-side analysts predict that Sierra Bancorp will post 2.95 earnings per share for the current year.

Sierra Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, August 4th. Sierra Bancorp's dividend payout ratio is presently 34.60%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Sierra Bancorp in the 2nd quarter worth $71,000. State of Tennessee Department of Treasury acquired a new stake in shares of Sierra Bancorp in the 4th quarter worth $137,000. CWM LLC boosted its position in shares of Sierra Bancorp by 15.1% in the 1st quarter. CWM LLC now owns 4,920 shares of the financial services provider's stock worth $137,000 after purchasing an additional 647 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Sierra Bancorp by 11.3% in the 4th quarter. MetLife Investment Management LLC now owns 8,249 shares of the financial services provider's stock worth $239,000 after purchasing an additional 838 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sierra Bancorp by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock worth $240,000 after purchasing an additional 1,664 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

About Sierra Bancorp

(Get Free Report)

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

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