Sierra Bancorp (NASDAQ:BSRR) Hits New 1-Year High – Should You Buy?

Shares of Sierra Bancorp (NASDAQ:BSRR) hit a new 52-week high during trading on Thursday . The stock traded as high as $40.76 and last traded at $40.18, with a volume of 57673 shares. The stock had previously closed at $39.62.

Analyst Ratings Changes

Several analysts have recently commented on BSRR shares. Piper Sandler decreased their target price on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Zacks Research cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. DA Davidson reiterated a “buy” rating and issued a $44.00 price target on shares of Sierra Bancorp in a report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Sierra Bancorp currently has an average rating of “Hold” and a consensus price target of $37.00.

Sierra Bancorp Stock Performance

The firm has a fifty day moving average of $36.98 and a 200-day moving average of $35.20. The firm has a market cap of $525.55 million, a P/E ratio of 11.71 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.14. The business had revenue of $38.66 million for the quarter, compared to analysts’ expectations of $39.68 million. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%. Research analysts predict that Sierra Bancorp will post 3.73 earnings per share for the current fiscal year.

Sierra Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.04 annualized dividend and a yield of 2.6%. Sierra Bancorp’s dividend payout ratio is presently 30.32%.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, EVP Hugh F. Boyle sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $38.21, for a total value of $382,100.00. Following the transaction, the executive vice president owned 21,781 shares of the company’s stock, valued at approximately $832,252.01. This represents a 31.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vonn R. Christenson sold 3,947 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $38.05, for a total value of $150,183.35. Following the completion of the transaction, the director directly owned 189 shares in the company, valued at $7,191.45. The trade was a 95.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 25,000 shares of company stock valued at $954,108. 11.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

Several hedge funds have recently added to or reduced their stakes in BSRR. Raymond James Financial Inc. acquired a new position in Sierra Bancorp in the second quarter valued at about $26,000. Russell Investments Group Ltd. lifted its stake in Sierra Bancorp by 3,714.3% in the third quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,040 shares during the period. Tower Research Capital LLC TRC lifted its stake in Sierra Bancorp by 57.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock valued at $67,000 after buying an additional 829 shares during the period. BNP Paribas Financial Markets lifted its stake in Sierra Bancorp by 121.6% in the third quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,956 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Sierra Bancorp in the fourth quarter valued at about $153,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Sierra Bancorp

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.