Short Interest in Sierra Bancorp (NASDAQ:BSRR) Rises By 24.8%

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Sierra Bancorp (NASDAQ:BSRR) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 132,500 shares, a growth of 24.8% from the December 15th total of 106,200 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 31,800 shares, the days-to-cover ratio is presently 4.2 days.

Several equities analysts recently commented on BSRR shares. ValuEngine raised Sierra Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Zacks Investment Research raised Sierra Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, December 30th. Finally, BidaskClub lowered Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $30.50.

In related news, EVP Kenneth Taylor sold 5,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $28.39, for a total value of $141,950.00. Following the transaction, the executive vice president now owns 38,000 shares of the company’s stock, valued at $1,078,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James F. Gardunio sold 3,162 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $27.77, for a total value of $87,808.74. Following the completion of the transaction, the executive vice president now directly owns 838 shares in the company, valued at approximately $23,271.26. The disclosure for this sale can be found here. Insiders sold 13,162 shares of company stock worth $363,809 in the last three months. 10.34% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Sierra Bancorp by 4.5% during the second quarter. BlackRock Inc. now owns 1,076,203 shares of the financial services provider’s stock worth $29,185,000 after purchasing an additional 46,380 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Sierra Bancorp by 1.0% during the second quarter. Vanguard Group Inc. now owns 582,935 shares of the financial services provider’s stock worth $15,809,000 after purchasing an additional 5,672 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Sierra Bancorp by 1.3% during the second quarter. Northern Trust Corp now owns 456,485 shares of the financial services provider’s stock worth $12,380,000 after purchasing an additional 5,825 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Sierra Bancorp by 0.7% during the second quarter. Renaissance Technologies LLC now owns 381,631 shares of the financial services provider’s stock worth $10,350,000 after purchasing an additional 2,500 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Sierra Bancorp by 4.8% during the third quarter. State Street Corp now owns 264,714 shares of the financial services provider’s stock worth $7,031,000 after purchasing an additional 12,076 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors.

Shares of BSRR stock opened at $28.16 on Tuesday. The stock’s 50-day moving average is $28.37 and its two-hundred day moving average is $26.74. The firm has a market cap of $427.43 million, a price-to-earnings ratio of 14.67 and a beta of 0.95. Sierra Bancorp has a 1 year low of $22.67 and a 1 year high of $30.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $30.24 million for the quarter, compared to analyst estimates of $29.82 million. Sierra Bancorp had a return on equity of 11.95% and a net margin of 25.98%. As a group, research analysts predict that Sierra Bancorp will post 2.28 EPS for the current year.

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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

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