Sierra Bancorp (NASDAQ:BSRR) Stock Price Crosses Above Two Hundred Day Moving Average on Disappointing Earnings

Sierra Bancorp (NASDAQ:BSRR) shares passed above its two hundred day moving average during trading on Tuesday following a stronger than expected earnings report. The stock has a two hundred day moving average of $28.73 and traded as high as $28.89. Sierra Bancorp shares last traded at $28.76, with a volume of 31,572 shares trading hands.

The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.07). Sierra Bancorp had a net margin of 19.70% and a return on equity of 11.21%. The business had revenue of $40.03 million for the quarter, compared to analyst estimates of $39.57 million.

Sierra Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 3rd. Sierra Bancorp’s payout ratio is currently 34.60%.

Analyst Upgrades and Downgrades

BSRR has been the subject of several analyst reports. Zacks Research cut shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. DA Davidson reiterated a “buy” rating and issued a $36.00 target price on shares of Sierra Bancorp in a research note on Tuesday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Sierra Bancorp in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Insiders Place Their Bets

In other Sierra Bancorp news, Director Julie G. Castle sold 976 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the completion of the transaction, the director directly owned 3,181 shares in the company, valued at approximately $93,044.25. This represents a 23.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Olague sold 9,193 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $28.41, for a total transaction of $261,173.13. Following the transaction, the executive vice president owned 8,809 shares of the company’s stock, valued at $250,263.69. This represents a 51.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.63% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Sierra Bancorp during the second quarter worth $26,000. Tower Research Capital LLC TRC grew its holdings in shares of Sierra Bancorp by 57.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,266 shares of the financial services provider’s stock worth $67,000 after buying an additional 829 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Sierra Bancorp during the second quarter worth $71,000. CWM LLC grew its holdings in shares of Sierra Bancorp by 15.1% during the first quarter. CWM LLC now owns 4,920 shares of the financial services provider’s stock worth $137,000 after buying an additional 647 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Sierra Bancorp during the second quarter worth $236,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Price Performance

The firm has a market cap of $390.85 million, a PE ratio of 10.02 and a beta of 0.78. The stock’s fifty day moving average price is $29.25 and its 200-day moving average price is $28.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.78 and a quick ratio of 0.78.

Sierra Bancorp Company Profile

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.