Short Interest in Sierra Bancorp (NASDAQ:BSRR) Increases By 21.7%

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 96,900 shares, a growth of 21.7% from the September 15th total of 79,600 shares. Currently, 0.8% of the company's shares are sold short. Based on an average trading volume of 40,100 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BSRR shares. StockNews.com cut Sierra Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their price target 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.

Sierra Bancorp Stock Down 0.4 %

NASDAQ:BSRR traded down $0.10 during trading hours on Monday, reaching $28.37. 12,074 shares of the stock were exchanged, compared to its average volume of 30,980. The stock has a market cap of $414.09 million, a PE ratio of 11.72 and a beta of 0.89. Sierra Bancorp has a twelve month low of $16.75 and a twelve month high of $31.85. The firm has a 50 day moving average of $28.65 and a 200 day moving average of $24.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%. The firm had revenue of $51.13 million for the quarter, compared to analyst estimates of $36.30 million. On average, equities analysts expect that Sierra Bancorp will post 2.77 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.24 dividend. This is an increase 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 annualized dividend and a dividend yield of 3.38%. Sierra Bancorp's dividend payout ratio is presently 39.67%.

Insider Activity

In other Sierra Bancorp news, EVP Michael Olague sold 14,088 shares of the firm'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 transaction, the executive vice president now directly owns 17,265 shares of the company's stock, valued at approximately $534,351.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $436,023.60. Following the completion of the transaction, the executive vice president now owns 17,265 shares in the company, valued at approximately $534,351.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $36,259.60. Following the transaction, the director now directly owns 5,100 shares in the company, valued at approximately $149,736. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,366 shares of company stock valued at $1,370,158 over the last 90 days. 11.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in Sierra Bancorp by 45.7% during the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider's stock worth $61,000 after buying an additional 957 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Sierra Bancorp in the first quarter valued at about $94,000. SG Americas Securities LLC bought a new position in Sierra Bancorp in the third quarter valued at about $142,000. Panagora Asset Management Inc. raised its stake in Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider's stock worth $268,000 after acquiring an additional 904 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Sierra Bancorp by 8.0% in the first quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider's stock worth $1,337,000 after acquiring an additional 4,900 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

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.