Sierra Bancorp (NASDAQ:BSRR) Sees Large Increase in Short Interest

Sierra Bancorp (NASDAQ:BSRR) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 130,300 shares, an increase of 29.7% from the June 30th total of 100,500 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 30,400 shares, the short-interest ratio is presently 4.3 days.

Sierra Bancorp Trading Down 3.7 %

NASDAQ:BSRR opened at $28.62 on Tuesday. Sierra Bancorp has a one year low of $16.75 and a one year high of $31.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $417.85 million, a P/E ratio of 11.83 and a beta of 0.91. The firm has a 50-day simple moving average of $22.83 and a 200-day simple moving average of $20.80.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $51.13 million during the quarter, compared to analyst estimates of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.82%. Equities analysts anticipate that Sierra Bancorp will post 2.76 EPS for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.35%. Sierra Bancorp’s dividend payout ratio is 38.02%.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director Julie G. Castle sold 1,235 shares of Sierra Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $29.36, for a total value of $36,259.60. Following the sale, the director now directly owns 5,100 shares in the company, valued at approximately $149,736. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sierra Bancorp news, EVP Michael Olague sold 11,660 shares of Sierra Bancorp stock in a transaction on Monday, July 29th. The shares were sold at an average price of $28.45, for a total value of $331,727.00. Following the completion of the transaction, the executive vice president now directly owns 25,132 shares of the company’s stock, valued at approximately $715,005.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie G. Castle sold 1,235 shares of Sierra Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $29.36, for a total transaction of $36,259.60. Following the completion of the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at $149,736. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,021 shares of company stock worth $1,097,688. Insiders own 11.86% of the company’s stock.

Institutional Trading of Sierra Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in Sierra Bancorp by 45.7% during the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock worth $61,000 after buying an additional 957 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Sierra Bancorp during the first quarter worth $94,000. Bfsg LLC acquired a new position in Sierra Bancorp during the fourth quarter worth $122,000. SG Americas Securities LLC raised its position in Sierra Bancorp by 16.0% during the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 1,012 shares during the period. Finally, Panagora Asset Management Inc. raised its position in Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 904 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott cut shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 23rd.

About Sierra Bancorp

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.