Insider Selling: Sierra Bancorp (NASDAQ:BSRR) Director Sells 2,540 Shares of Stock

Sierra Bancorp (NASDAQ:BSRR) Director Albert L. Berra sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the completion of the transaction, the director now owns 150,063 shares of the company’s stock, valued at approximately $4,838,031.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sierra Bancorp Trading Down 1.9 %

Shares of BSRR traded down $0.61 during mid-day trading on Tuesday, reaching $32.29. 49,013 shares of the company’s stock traded hands, compared to its average volume of 31,952. The stock has a market cap of $458.36 million, a P/E ratio of 13.06 and a beta of 0.89. The stock’s 50-day moving average is $29.15 and its two-hundred day moving average is $25.85. Sierra Bancorp has a 12 month low of $17.68 and a 12 month high of $35.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $52.59 million during the quarter, compared to analyst estimates of $38.30 million. Sierra Bancorp had a return on equity of 10.59% and a net margin of 17.91%. Research analysts forecast that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, October 31st. Sierra Bancorp’s payout ratio is 38.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSRR. Keefe, Bruyette & Woods lifted their price objective on Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. StockNews.com cut Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Friday.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BSRR. Segall Bryant & Hamill LLC purchased a new stake in Sierra Bancorp in the third quarter valued at approximately $1,146,000. Foundry Partners LLC raised its holdings in Sierra Bancorp by 19.2% during the third quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider’s stock worth $5,111,000 after purchasing an additional 28,495 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Sierra Bancorp by 24.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,000 shares of the financial services provider’s stock valued at $2,137,000 after acquiring an additional 14,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sierra Bancorp by 85.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,241 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 12,077 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Sierra Bancorp by 21.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 46,013 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 8,033 shares in the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.