Sierra Bancorp (NASDAQ:BSRR) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Sierra Bancorp (NASDAQ:BSRR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.23 and traded as high as $41.21. Sierra Bancorp shares last traded at $40.84, with a volume of 38,948 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BSRR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Piper Sandler decreased their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sierra Bancorp has a consensus rating of “Hold” and an average target price of $38.67.

Sierra Bancorp Trading Down 1.7%

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $523.44 million, a price-to-earnings ratio of 11.84 and a beta of 0.76. The firm’s fifty day moving average is $40.72 and its 200-day moving average is $38.26.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%.The business had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. Equities analysts anticipate that Sierra Bancorp will post 3.55 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.7%. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, August 3rd. Sierra Bancorp’s payout ratio is presently 31.58%.

Institutional Trading of Sierra Bancorp

Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of Sierra Bancorp in the 2nd quarter valued at $45,000. Ameritas Advisory Services LLC acquired a new stake in Sierra Bancorp in the second quarter worth $94,000. Integrated Wealth Concepts LLC acquired a new stake in Sierra Bancorp in the second quarter worth $94,000. Public Employees Retirement System of Ohio bought a new stake in Sierra Bancorp in the second quarter valued at $149,000. Finally, Corient Private Wealth LP acquired a new position in shares of Sierra Bancorp during the second quarter valued at about $216,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Sierra Bancorp

Sierra Bancorp is a bank holding company headquartered in Porterville, California. Its principal subsidiary, Bank of the Sierra, provides banking and financial services to individuals, families, businesses, agricultural customers and nonprofit organizations.

Bank of the Sierra offers deposit accounts, consumer and commercial loans, residential and agricultural lending, small business financing, mortgage services and cash-management solutions. The bank also provides digital banking tools, wealth management and trust services, and other financial products designed for personal and business customers.

Founded in 1977, Sierra Bancorp serves communities primarily throughout California’s Central Valley and Central Coast, with a particular focus on markets supported by agriculture, small businesses and local industries.