Short Interest in Sierra Bancorp (NASDAQ:BSRR) Rises By 64.8%

Sierra Bancorp (NASDAQ:BSRR) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 247,436 shares, a growth of 64.8% from the January 29th total of 150,182 shares. Based on an average daily volume of 92,379 shares, the short-interest ratio is currently 2.7 days. Currently, 2.1% of the shares of the company are short sold. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 92,379 shares, the short-interest ratio is currently 2.7 days.

Sierra Bancorp Price Performance

BSRR stock traded down $1.30 during trading on Friday, reaching $35.98. 94,986 shares of the company were exchanged, compared to its average volume of 80,664. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50 day moving average price is $35.23 and its 200 day moving average price is $31.79. Sierra Bancorp has a 52-week low of $22.42 and a 52-week high of $38.60. The company has a market cap of $478.53 million, a P/E ratio of 11.53 and a beta of 0.79.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, February 2nd. The financial services provider reported $0.97 earnings per share (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 net margin of 20.96% and a return on equity of 11.90%. As a group, analysts predict that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $0.26 per share. The ex-dividend date was Monday, February 9th. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.9%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Sierra Bancorp

In other news, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 302,970 shares of the company’s stock, valued at approximately $11,491,652.10. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julie G. Castle sold 750 shares of the stock in a transaction dated 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. This trade represents a 23.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 15,143 shares of company stock valued at $536,022. Company insiders own 11.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BSRR. Janus Henderson Group PLC purchased a new stake in shares of Sierra Bancorp in the 4th quarter worth about $8,465,000. CSM Advisors LLC purchased a new stake in shares of Sierra Bancorp in the second quarter valued at about $5,057,000. Segall Bryant & Hamill LLC grew its position in shares of Sierra Bancorp by 367.4% in the second quarter. Segall Bryant & Hamill LLC now owns 66,131 shares of the financial services provider’s stock valued at $1,963,000 after purchasing an additional 51,981 shares during the last quarter. Bank of America Corp DE grew its position in shares of Sierra Bancorp by 371.5% in the second quarter. Bank of America Corp DE now owns 64,365 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 50,714 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Sierra Bancorp by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 181,923 shares of the financial services provider’s stock worth $5,401,000 after purchasing an additional 47,474 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

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.