Cindy L. Dabney, the Senior Vice President and Chief Accounting Officer of Sierra Bancorp (NASDAQ:BSRR), recently reported a sale of company shares. According to a Form 4 filing with the Securities and Exchange Commission, Dabney sold 516 shares of common stock on November 6, 2024, at an average price of $34.79 per share, amounting to a total transaction value of $17,951.
Additionally, Dabney acquired 1,000 shares of common stock through the exercise of stock options at a price of $17.25 per share. Following these transactions, Dabney holds 6,348.492 shares directly. The stock option exercise was part of a plan that originally vested over five years, with the first vesting date on February 18, 2016, and the final one on February 18, 2021.
In other recent news, Sierra Bancorp has seen significant changes and developments. The company reported a robust quarter with substantial loan growth, primarily driven by its successful mortgage warehouse strategy. This strategy contributed to an unexpected expansion in net interest margin and top-line revenue growth. In terms of earnings, Sierra Bancorp reported earnings per share of $0.64.
Moreover, the company has announced the approval of a new share repurchase program and declared a regular quarterly cash dividend of $0.24 per share. DA Davidson reaffirmed a Buy rating for Sierra Bancorp, reflecting confidence in the bank's continued growth and profitability. However, Keefe, Bruyette & Woods lowered its stock price target, maintaining a Market Perform rating, while Janney upgraded the company's rating from Neutral to Buy.
In other developments, Director Gordon Woods retired from his position on the board of Sierra Bancorp and its subsidiary. The details of the transition or the appointment of a new director were not disclosed. These are among the recent developments that investors may find noteworthy.
InvestingPro Insights
Sierra Bancorp (NASDAQ:BSRR) has been experiencing significant market momentum, as evidenced by recent InvestingPro data. The company's stock has shown remarkable performance, with a 21.8% return in the past week and an impressive 100.23% return over the last year. This upward trend aligns with the insider transaction reported, potentially indicating confidence in the company's prospects.
InvestingPro Tips highlight that BSRR is trading near its 52-week high, with the current price at 98.46% of its peak. This strength is further underscored by the stock's significant 64.93% price total return over the past six months.
Despite these positive indicators, investors should note that BSRR is trading at a high P/E ratio relative to its near-term earnings growth, with a PEG ratio of 2.53. This suggests that the stock may be somewhat overvalued based on current growth expectations.
On the dividend front, Sierra Bancorp has maintained dividend payments for 29 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at 2.78%, with a 4.35% dividend growth over the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for BSRR, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.