Sierra Bancorp (BSRR) Lowered to “Strong Sell” at BidaskClub
BidaskClub cut shares of Sierra Bancorp (NASDAQ:BSRR) from a sell rating to a strong sell rating in a research note released on Tuesday.
BSRR has been the topic of a number of other research reports. DA Davidson upgraded Sierra Bancorp from a neutral rating to a buy rating and set a $30.00 target price on the stock in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Sierra Bancorp from a hold rating to a buy rating and set a $27.00 target price on the stock in a research report on Tuesday, July 11th. ValuEngine upgraded Sierra Bancorp from a hold rating to a buy rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. upgraded Sierra Bancorp from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $27.00 target price on shares of Sierra Bancorp in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $27.75.
Shares of Sierra Bancorp (NASDAQ:BSRR) traded down 0.74% on Tuesday, reaching $26.65. 41,972 shares of the company traded hands. The firm’s 50 day moving average is $24.86 and its 200 day moving average is $26.13. Sierra Bancorp has a one year low of $17.25 and a one year high of $29.50. The company has a market capitalization of $368.62 million, a P/E ratio of 19.33 and a beta of 0.85.
Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. Sierra Bancorp had a return on equity of 9.22% and a net margin of 20.35%. The firm had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. Analysts expect that Sierra Bancorp will post $1.51 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, August 1st. Sierra Bancorp’s payout ratio is 40.88%.
Several hedge funds have recently made changes to their positions in BSRR. American International Group Inc. raised its stake in shares of Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock worth $197,000 after buying an additional 478 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Sierra Bancorp during the fourth quarter worth approximately $213,000. Oxford Asset Management purchased a new stake in shares of Sierra Bancorp during the first quarter worth approximately $490,000. Teachers Advisors LLC raised its stake in shares of Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,300 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Sierra Bancorp by 33.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock worth $582,000 after buying an additional 5,300 shares during the last quarter. 54.07% of the stock is currently owned by hedge funds and other institutional investors.
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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