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

Sierra Bancorp (NASDAQ:BSRR) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 105,400 shares, an increase of 84.9% from the February 13th total of 57,000 shares. Based on an average trading volume of 46,900 shares, the short-interest ratio is presently 2.2 days. Currently, 0.9% of the shares of the company are sold short.

Insider Buying and Selling

In related news, EVP Michael Olague sold 3,563 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $31.15, for a total transaction of $110,987.45. Following the transaction, the executive vice president now directly owns 12,409 shares in the company, valued at approximately $386,540.35. The trade was a 22.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julie G. Castle sold 1,104 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now owns 4,157 shares in the company, valued at $133,024. This represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,668 shares of company stock valued at $146,346 over the last ninety days. Company insiders own 11.63% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

Large investors have recently made changes to their positions in the company. State of Tennessee Department of Treasury acquired a new position in Sierra Bancorp in the 4th quarter worth about $137,000. SG Americas Securities LLC lifted its stake in shares of Sierra Bancorp by 20.3% in the fourth quarter. SG Americas Securities LLC now owns 5,903 shares of the financial services provider’s stock valued at $171,000 after buying an additional 997 shares during the period. Brandywine Global Investment Management LLC bought a new position in Sierra Bancorp in the fourth quarter worth $202,000. Franklin Resources Inc. bought a new position in Sierra Bancorp in the third quarter worth $216,000. Finally, MetLife Investment Management LLC lifted its stake in Sierra Bancorp by 11.3% during the fourth quarter. MetLife Investment Management LLC now owns 8,249 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 838 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Wall Street Analysts Forecast Growth

BSRR has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a research note 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 Stock Up 1.9 %

Shares of BSRR traded up $0.52 during trading on Friday, reaching $28.56. The company’s stock had a trading volume of 29,887 shares, compared to its average volume of 46,063. The company 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 moving average of $29.78 and a two-hundred day moving average of $29.79. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.46. Sierra Bancorp has a twelve month low of $17.69 and a twelve month high of $35.13.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. On average, sell-side analysts predict that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. 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. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.24. Sierra Bancorp’s payout ratio is currently 35.59%.

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.