Sierra Bancorp (NASDAQ:BSRR) Sees Large Increase in Short Interest

Sierra Bancorp (NASDAQ:BSRR) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 247,436 shares, a growth of 64.8% from the January 29th total of 150,182 shares. Based on an average daily trading volume, of 92,379 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.1% of the company’s shares are short sold. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 92,379 shares, the days-to-cover ratio is currently 2.7 days.

Sierra Bancorp Price Performance

Shares of NASDAQ:BSRR opened at $35.98 on Friday. The business has a fifty day moving average price of $35.23 and a 200-day moving average price of $31.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $478.53 million, a PE ratio of 11.53 and a beta of 0.79. Sierra Bancorp has a 1-year low of $22.42 and a 1-year high of $38.60.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, February 2nd. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The company had revenue of $40.35 million for the quarter, compared to the consensus estimate of $40.04 million. Sierra Bancorp had a net margin of 20.96% and a return on equity of 11.90%. As a group, equities analysts expect that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.9%. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 9th. Sierra Bancorp’s payout ratio is 33.33%.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $37.93, for a total value of $189,650.00. Following the completion of the sale, the director directly owned 302,970 shares in the company, valued at $11,491,652.10. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Julie G. Castle sold 750 shares of Sierra Bancorp stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the sale, the director directly owned 2,431 shares in the company, valued at approximately $92,207.83. The trade was a 23.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,143 shares of company stock valued at $536,022 in the last three months. Corporate insiders own 11.86% of the company’s stock.

Institutional Trading of Sierra Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in shares of Sierra Bancorp by 14.6% in the 4th quarter. Invesco Ltd. now owns 24,075 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 3,058 shares in the last quarter. Empowered Funds LLC increased its holdings in Sierra Bancorp by 8.7% in the 4th quarter. Empowered Funds LLC now owns 79,990 shares of the financial services provider’s stock worth $2,614,000 after buying an additional 6,432 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Sierra Bancorp in the 4th quarter worth about $217,000. Janus Henderson Group PLC purchased a new position in Sierra Bancorp in the 4th quarter worth about $8,465,000. Finally, Bridgeway Capital Management LLC lifted its stake in Sierra Bancorp by 5.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 132,990 shares of the financial services provider’s stock valued at $4,346,000 after acquiring an additional 6,432 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BSRR shares. DA Davidson raised their price objective on Sierra Bancorp from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Zacks Research raised shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Sierra Bancorp has an average rating of “Buy” and a consensus price target of $38.50.

About Sierra Bancorp

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.