Sierra Bancorp (NASDAQ:BSRR) Short Interest Up 10.4% in October

Sierra Bancorp (NASDAQ:BSRR) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 107,000 shares, an increase of 10.4% from the September 30th total of 96,900 shares. Based on an average trading volume of 37,800 shares, the short-interest ratio is presently 2.8 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSRR. Keefe, Bruyette & Woods raised their price target on Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total value of $292,600.00. Following the completion of the transaction, the director now owns 475,060 shares of the company’s stock, valued at $13,900,255.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of Sierra Bancorp stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the transaction, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at approximately $343,729.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total transaction of $292,600.00. Following the completion of the sale, the director now owns 475,060 shares of the company’s stock, valued at approximately $13,900,255.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.86% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in BSRR. Vanguard Group Inc. increased its position in Sierra Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock valued at $13,737,000 after buying an additional 5,830 shares in the last quarter. Private Management Group Inc. increased its holdings in shares of Sierra Bancorp by 1.2% during the second quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock valued at $14,707,000 after acquiring an additional 7,515 shares in the last quarter. Foundry Partners LLC raised its position in shares of Sierra Bancorp by 11.1% in the 1st quarter. Foundry Partners LLC now owns 150,415 shares of the financial services provider’s stock worth $3,038,000 after purchasing an additional 15,080 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Sierra Bancorp by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after purchasing an additional 3,531 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Sierra Bancorp by 24.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 74,000 shares of the financial services provider’s stock worth $2,137,000 after purchasing an additional 14,335 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Stock Down 1.7 %

Shares of BSRR stock traded down $0.50 during midday trading on Tuesday, reaching $28.89. 29,140 shares of the stock were exchanged, compared to its average volume of 31,447. The firm has a market cap of $421.68 million, a PE ratio of 11.94 and a beta of 0.89. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $28.91 and its two-hundred day moving average is $25.03. Sierra Bancorp has a 1 year low of $16.75 and a 1 year high of $31.85.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $52.59 million during the quarter, compared to the consensus estimate of $38.30 million. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. On average, equities research analysts predict that Sierra Bancorp will post 2.77 EPS for the current year.

Sierra Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, October 31st. Sierra Bancorp’s dividend payout ratio (DPR) is presently 39.67%.

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.