Sierra Bancorp (NASDAQ:BSRR) Sees Significant Drop in Short Interest

Sierra Bancorp (NASDAQ:BSRR) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 54,700 shares, a decline of 8.8% from the January 15th total of 60,000 shares. Based on an average daily volume of 47,300 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the shares of the stock are sold short.

Analyst Ratings Changes

BSRR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Sierra Bancorp from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th.

Sierra Bancorp Trading Down 0.6 %

Shares of NASDAQ:BSRR traded down $0.20 on Monday, reaching $30.74. 33,418 shares of the company traded hands, compared to its average volume of 47,576. Sierra Bancorp has a 52 week low of $17.69 and a 52 week high of $35.13. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $29.88 and its 200 day simple moving average is $29.56. The stock has a market capitalization of $442.35 million, a P/E ratio of 10.94 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. As a group, equities analysts anticipate that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Sierra Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Monday, February 3rd. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.24. Sierra Bancorp’s payout ratio is currently 35.59%.

Insider Transactions at Sierra Bancorp

In other news, Director Julie G. Castle sold 1,104 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the transaction, the director now owns 4,157 shares of the company’s stock, valued at $133,024. This represents a 20.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Olague sold 3,563 shares of Sierra Bancorp stock in a transaction on Friday, February 7th. The stock was sold at an average price of $31.15, for a total transaction of $110,987.45. Following the sale, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at $386,540.35. This represents a 22.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,668 shares of company stock valued at $146,346. 11.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in Sierra Bancorp in the third quarter valued at $29,000. State of Tennessee Department of Treasury bought a new stake in shares of Sierra Bancorp during the 4th quarter valued at about $137,000. SG Americas Securities LLC purchased a new position in shares of Sierra Bancorp during the third quarter valued at about $142,000. Brandywine Global Investment Management LLC bought a new position in Sierra Bancorp in the fourth quarter worth about $202,000. Finally, Franklin Resources Inc. purchased a new stake in Sierra Bancorp in the third quarter worth about $216,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.