Sierra Bancorp (NASDAQ:BSRR) Shares Gap Down – Time to Sell?

Sierra Bancorp (NASDAQ:BSRR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $41.72, but opened at $38.43. Sierra Bancorp shares last traded at $41.6320, with a volume of 6,994 shares.

Analyst Ratings Changes

BSRR has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Zacks Research lowered shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. DA Davidson reissued a “buy” rating and issued a $44.00 price objective on shares of Sierra Bancorp in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Sierra Bancorp Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. The business has a 50 day simple moving average of $39.91 and a two-hundred day simple moving average of $36.99. The firm has a market cap of $551.91 million, a PE ratio of 12.30 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.14. The firm had revenue of $38.66 million during the quarter, compared to analyst estimates of $39.68 million. Sierra Bancorp had a net margin of 22.53% and a return on equity of 12.67%. As a group, equities research analysts forecast that Sierra Bancorp will post 3.73 earnings per share for the current fiscal year.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, EVP Hugh F. Boyle sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the sale, the executive vice president directly owned 21,781 shares of the company’s stock, valued at $832,252.01. The trade was a 31.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vonn R. Christenson sold 1,053 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.01, for a total transaction of $40,024.53. Following the completion of the transaction, the director owned 189 shares in the company, valued at $7,183.89. This represents a 84.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 25,000 shares of company stock worth $954,108 in the last 90 days. 11.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BSRR. Janus Henderson Group PLC bought a new stake in shares of Sierra Bancorp in the fourth quarter valued at about $8,465,000. Bank of America Corp DE grew its holdings in Sierra Bancorp by 371.5% during the 2nd quarter. Bank of America Corp DE now owns 64,365 shares of the financial services provider’s stock worth $1,911,000 after acquiring an additional 50,714 shares in the last quarter. Ameriprise Financial Inc. increased its position in Sierra Bancorp by 16.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 238,620 shares of the financial services provider’s stock valued at $7,085,000 after purchasing an additional 33,048 shares during the period. Jane Street Group LLC purchased a new position in Sierra Bancorp during the 1st quarter valued at about $784,000. Finally, Vanguard Group Inc. raised its holdings in shares of Sierra Bancorp by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 733,567 shares of the financial services provider’s stock valued at $21,207,000 after purchasing an additional 22,931 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

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.