Sierra Bancorp (NASDAQ:BSRR) Short Interest Up 15.9% in September

Sierra Bancorp (NASDAQ:BSRR) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 79,600 shares, an increase of 15.9% from the August 31st total of 68,700 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 41,000 shares, the days-to-cover ratio is currently 1.9 days.

Sierra Bancorp Stock Performance

Shares of NASDAQ:BSRR traded up $0.25 during trading on Monday, reaching $28.88. The stock had a trading volume of 29,752 shares, compared to its average volume of 31,692. The stock has a fifty day simple moving average of $28.89 and a two-hundred day simple moving average of $23.73. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. Sierra Bancorp has a 52 week low of $16.75 and a 52 week high of $31.85. The firm has a market capitalization of $421.53 million, a price-to-earnings ratio of 11.93 and a beta of 0.90.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. The company had revenue of $51.13 million during the quarter, compared to analysts’ expectations of $36.30 million. As a group, analysts anticipate that Sierra Bancorp will post 2.76 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.24 dividend. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. Sierra Bancorp’s dividend payout ratio is currently 39.67%.

Analyst Ratings Changes

Several research analysts have weighed in on BSRR shares. StockNews.com lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, Director Julie G. Castle sold 1,235 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $29.36, for a total transaction of $36,259.60. Following the transaction, the director now owns 5,100 shares of the company’s stock, valued at approximately $149,736. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Michael Olague sold 14,088 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $30.95, for a total value of $436,023.60. Following the sale, the executive vice president now directly owns 17,265 shares in the company, valued at approximately $534,351.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie G. Castle sold 1,235 shares of Sierra Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $29.36, for a total value of $36,259.60. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at $149,736. The disclosure for this sale can be found here. Insiders have sold a total of 46,366 shares of company stock worth $1,370,158 over the last ninety days. 11.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sierra Bancorp

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in Sierra Bancorp by 45.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 957 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Sierra Bancorp during the first quarter worth $94,000. Panagora Asset Management Inc. lifted its position in Sierra Bancorp by 8.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 904 shares in the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the 4th quarter worth $280,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sierra Bancorp by 118.2% in the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 8,243 shares during the last quarter. 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.