Sierra Bancorp (NASDAQ:BSRR) Stock Crosses Above 200-Day Moving Average – Here’s Why

Sierra Bancorp (NASDAQ:BSRR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.70 and traded as high as $35.41. Sierra Bancorp shares last traded at $34.30, with a volume of 87,220 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BSRR shares. Keefe, Bruyette & Woods raised their price objective on shares of Sierra Bancorp from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. DA Davidson reiterated a “buy” rating and set a $36.00 target price on shares of Sierra Bancorp in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Sierra Bancorp Stock Down 2.1%

The firm’s 50 day moving average is $33.01 and its 200-day moving average is $30.70. The firm has a market cap of $456.19 million, a PE ratio of 11.95 and a beta of 0.81. 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 released its earnings results on Monday, October 27th. 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 return on equity of 11.17% and a net margin of 19.70%.The firm had revenue of $40.03 million during the quarter, compared to analysts’ expectations of $39.57 million. As a group, equities research analysts expect that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director Lynda Scearcy sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the director directly owned 30,133 shares of the company’s stock, valued at approximately $1,054,655. This trade represents a 14.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cindy L. Dabney sold 3,443 shares of Sierra Bancorp stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $32.00, for a total value of $110,176.00. Following the completion of the sale, the chief accounting officer owned 6,465 shares of the company’s stock, valued at $206,880. This trade represents a 34.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,143 shares of company stock valued at $338,544 over the last quarter. Insiders own 11.63% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of Sierra Bancorp by 71.6% during the 1st quarter. AQR Capital Management LLC now owns 24,072 shares of the financial services provider’s stock valued at $671,000 after buying an additional 10,046 shares during the period. Jane Street Group LLC acquired a new position in Sierra Bancorp in the first quarter valued at $784,000. Ameritas Advisory Services LLC purchased a new stake in Sierra Bancorp during the second quarter valued at about $71,000. CSM Advisors LLC acquired a new stake in Sierra Bancorp during the second quarter worth about $5,057,000. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of Sierra Bancorp in the 2nd quarter worth about $243,000. Hedge funds and other institutional investors 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.