Sierra Bancorp (NASDAQ:BSRR) Shares Cross Above 200 Day Moving Average – Time to Sell?

Sierra Bancorp (NASDAQ:BSRR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.06 and traded as high as $33.76. Sierra Bancorp shares last traded at $33.50, with a volume of 77,032 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. DA Davidson boosted their target price on shares of Sierra Bancorp from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Sierra Bancorp currently has a consensus rating of “Buy” and a consensus price target of $38.50.

Sierra Bancorp Trading Down 0.9%

The company has a 50 day moving average of $35.43 and a two-hundred day moving average of $32.06. The stock has a market capitalization of $441.87 million, a PE ratio of 10.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, February 2nd. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $40.35 million during the quarter, compared to analysts’ expectations of $40.04 million. Sierra Bancorp had a return on equity of 11.82% and a net margin of 20.96%. Sell-side analysts predict that Sierra Bancorp will post 2.95 EPS for the current year.

Sierra Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.25. Sierra Bancorp’s payout ratio is 33.33%.

Insiders Place Their Bets

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $37.93, for a total value of $189,650.00. Following the completion of the transaction, the director owned 302,970 shares of the company’s stock, valued at approximately $11,491,652.10. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julie G. Castle sold 750 shares of Sierra Bancorp stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $37.93, for a total transaction of $28,447.50. Following the sale, the director owned 2,431 shares of the company’s stock, valued at $92,207.83. The trade was a 23.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,600 shares of company stock valued at $422,578. Insiders own 11.63% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Sierra Bancorp in the second quarter worth about $26,000. Russell Investments Group Ltd. increased its holdings in Sierra Bancorp by 3,714.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,068 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,040 shares during the period. Tower Research Capital LLC TRC increased its holdings in Sierra Bancorp by 57.7% in the 2nd 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 during the period. BNP Paribas Financial Markets raised its position in Sierra Bancorp by 121.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,565 shares of the financial services provider’s stock worth $103,000 after buying an additional 1,956 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Sierra Bancorp during the 4th quarter worth approximately $153,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.