Sierra Bancorp (BSRR) Lowered to “Sell” at BidaskClub
Sierra Bancorp (NASDAQ:BSRR) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
BSRR has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, December 26th. DA Davidson lowered shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. ValuEngine lowered shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Finally, FIG Partners began coverage on shares of Sierra Bancorp in a research note on Thursday, December 21st. They set a “market-perform” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.79.
Shares of Sierra Bancorp (NASDAQ:BSRR) opened at $26.98 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $406.34, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. Sierra Bancorp has a one year low of $23.10 and a one year high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $24.35 million for the quarter, compared to analyst estimates of $23.90 million. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.87%. sell-side analysts anticipate that Sierra Bancorp will post 1.52 EPS for the current fiscal year.
In other news, Director Robb Evans bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at $416,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gordon T. Woods sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $28.50, for a total transaction of $85,500.00. The disclosure for this sale can be found here. 20.77% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in shares of Sierra Bancorp by 4.3% during the second quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock worth $10,763,000 after buying an additional 18,165 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Sierra Bancorp by 10.5% during the second quarter. Ameriprise Financial Inc. now owns 132,980 shares of the financial services provider’s stock worth $3,263,000 after buying an additional 12,657 shares during the period. Foundry Partners LLC increased its stake in shares of Sierra Bancorp by 7.9% during the third quarter. Foundry Partners LLC now owns 180,065 shares of the financial services provider’s stock worth $4,889,000 after buying an additional 13,225 shares during the period. State Street Corp increased its stake in shares of Sierra Bancorp by 6.3% during the second quarter. State Street Corp now owns 215,866 shares of the financial services provider’s stock worth $5,298,000 after buying an additional 12,798 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Sierra Bancorp by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 905,877 shares of the financial services provider’s stock worth $22,239,000 after buying an additional 29,524 shares during the period. Hedge funds and other institutional investors own 49.24% of the company’s stock.
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Sierra Bancorp Company Profile
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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