Sierra Bancorp (NASDAQ:BSRR) Short Interest Update

Sierra Bancorp (NASDAQ:BSRR) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 105,400 shares, a growth of 84.9% from the February 13th total of 57,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 46,900 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

BSRR has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Monday.

Insider Transactions at Sierra Bancorp

In related news, Director Julie G. Castle sold 1,104 shares of the firm’s 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 directly owns 4,157 shares in the company, valued at approximately $133,024. This trade represents a 20.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Olague sold 3,563 shares of Sierra Bancorp stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $31.15, for a total value of $110,987.45. Following the completion of the transaction, the executive vice president now owns 12,409 shares in the company, valued at $386,540.35. The trade was a 22.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,668 shares of company stock valued at $146,346. 11.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Sierra Bancorp by 3.6% in the 3rd quarter. State Street Corp now owns 321,257 shares of the financial services provider’s stock worth $9,278,000 after acquiring an additional 11,095 shares in the last quarter. FMR LLC boosted its holdings in shares of Sierra Bancorp by 12.5% in the third quarter. FMR LLC now owns 194,573 shares of the financial services provider’s stock valued at $5,619,000 after buying an additional 21,558 shares during the period. Foundry Partners LLC increased its holdings in Sierra Bancorp by 19.2% during the 3rd quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider’s stock worth $5,111,000 after purchasing an additional 28,495 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Sierra Bancorp by 2.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 131,761 shares of the financial services provider’s stock valued at $3,811,000 after purchasing an additional 3,767 shares during the period. Finally, American Century Companies Inc. lifted its stake in Sierra Bancorp by 3.9% in the 4th quarter. American Century Companies Inc. now owns 126,905 shares of the financial services provider’s stock valued at $3,670,000 after acquiring an additional 4,794 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Sierra Bancorp Stock Performance

NASDAQ:BSRR opened at $28.04 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $29.79 and a 200 day moving average price of $29.80. The firm has a market capitalization of $391.55 million, a PE ratio of 9.98 and a beta of 0.89. Sierra Bancorp has a 12-month low of $17.69 and a 12-month high of $35.13.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 EPS 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%. Research analysts anticipate that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company 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 is an increase from Sierra Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, February 3rd. Sierra Bancorp’s dividend payout ratio (DPR) is currently 35.59%.

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.