Short Interest in Sierra Bancorp (NASDAQ:BSRR) Rises By 84.9%

Sierra Bancorp (NASDAQ:BSRR) was the recipient of a significant growth in short interest in 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. Based on an average daily trading volume, of 46,900 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.9% of the shares of the company are short sold.

Sierra Bancorp Trading Up 1.9 %

Shares of NASDAQ:BSRR traded up $0.52 during trading on Friday, hitting $28.56. The company had a trading volume of 29,887 shares, compared to its average volume of 46,063. Sierra Bancorp has a one year low of $17.69 and a one year high of $35.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $398.81 million, a price-to-earnings ratio of 10.16 and a beta of 0.89. The company has a fifty day simple moving average of $29.79 and a two-hundred day simple moving average of $29.80.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. As a group, equities analysts forecast that Sierra Bancorp will post 2.95 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $0.25 per share. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Monday, February 3rd. Sierra Bancorp’s dividend payout ratio (DPR) is currently 35.59%.

Insider Transactions at Sierra Bancorp

In other news, EVP Michael Olague sold 3,563 shares of the firm’s 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 transaction, the executive vice president now owns 12,409 shares of the company’s stock, valued at $386,540.35. This trade represents a 22.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julie G. Castle sold 1,104 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.00, for a total value of $35,328.00. Following the sale, the director now owns 4,157 shares of the company’s stock, valued at $133,024. This represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,668 shares of company stock valued at $146,346 over the last quarter. 11.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in Sierra Bancorp by 3.6% during the 3rd quarter. State Street Corp now owns 321,257 shares of the financial services provider’s stock valued at $9,278,000 after purchasing an additional 11,095 shares in the last quarter. FMR LLC raised its position in Sierra Bancorp by 12.5% during the 3rd quarter. FMR LLC now owns 194,573 shares of the financial services provider’s stock valued at $5,619,000 after purchasing an additional 21,558 shares in the last quarter. Foundry Partners LLC raised its position 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 valued at $5,111,000 after purchasing an additional 28,495 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Sierra Bancorp by 2.9% during 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 in the last quarter. Finally, American Century Companies Inc. raised its position in Sierra Bancorp by 3.9% during 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 purchasing an additional 4,794 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on BSRR shares. Keefe, Bruyette & Woods raised their price target on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.

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