In a recent transaction, Michael Olague, the EVP and Chief Banking Officer of Sierra Bancorp (NASDAQ:BSRR), sold 4,753 shares of the company's common stock. The shares were sold at an average price of $22.29, totaling approximately $105,960. This transaction was reported in a filing with the Securities and Exchange Commission.
The sale took place on May 9, 2024, and following the transaction, Olague continues to hold 31,353 shares of Sierra Bancorp stock, directly. The sale represents a portion of his holdings, but he still retains a significant stake in the company.
Sierra Bancorp, based in Porterville, California, operates as the bank holding company for Bank of the Sierra, offering a range of financial services to customers in the region.
Investors often keep an eye on insider transactions as they can provide insights into an executive's confidence in the company's future performance. However, such sales could also be part of an individual's personal financial planning and not necessarily indicative of the company's operational performance.
Details of the sale are publicly available through the SEC filing, which provides transparency into the actions of Sierra Bancorp's executives. The company has not made any further comments regarding this transaction.
InvestingPro Insights
Following the recent insider transaction at Sierra Bancorp (NASDAQ:BSRR), where EVP and Chief Banking Officer Michael Olague sold a portion of his shares, it's insightful to consider the company's financial health and market performance. Sierra Bancorp has shown a significant return over the last week with a price total return of 8.03%, and the trend has been positive over longer periods, with a 19.73% return over the last month and an impressive 51.07% return over the past year.
One of the key InvestingPro Tips for Sierra Bancorp is that analysts have revised their earnings upwards for the upcoming period, which could indicate potential optimism about the company's future performance. Additionally, Sierra Bancorp has maintained dividend payments for 29 consecutive years, showcasing a commitment to returning value to shareholders. This is particularly notable given the company's current dividend yield of 4.07% as of the last dividend ex-date on April 29, 2024.
From a valuation standpoint, Sierra Bancorp is trading at a high P/E ratio relative to near-term earnings growth, with a P/E ratio of 9.2 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 9.11. The company's market capitalization stands at 323.93 million USD, and it has experienced revenue growth of 5.97% over the last twelve months as of Q1 2024.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available for Sierra Bancorp at https://www.investing.com/pro/BSRR. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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