Sierra Bancorp (BSRR) Rating Lowered to Hold at Zacks Investment Research
Sierra Bancorp (NASDAQ:BSRR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Sierra Bancorp is the bank holding company for the Bank of the Sierra. The Bank of the Sierra is the largest independent bank headquartered in the South Valley, and operates branch offices as well as real estate centers, agricultural credit centers and a bank card center. “
BSRR has been the subject of a number of other research reports. ValuEngine downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Hovde Group increased their price target on shares of Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Sierra Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Raymond James Financial, Inc. upgraded shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $27.00 price target on shares of Sierra Bancorp in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.95.
Shares of Sierra Bancorp (NASDAQ:BSRR) traded down 0.39% during mid-day trading on Friday, hitting $25.76. 59,896 shares of the stock traded hands. The firm’s 50 day moving average price is $25.60 and its 200 day moving average price is $25.63. The firm has a market cap of $356.47 million, a price-to-earnings ratio of 18.68 and a beta of 0.88. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly 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. The business had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%. On average, equities research analysts predict that Sierra Bancorp will post $1.52 EPS for the current fiscal year.
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In related news, Director Robert L. Fields sold 2,465 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.13, for a total value of $66,875.45. Following the sale, the director now directly owns 410,078 shares of the company’s stock, valued at approximately $11,125,416.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert L. Fields sold 9,600 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $27.14, for a total transaction of $260,544.00. Following the completion of the sale, the director now directly owns 412,543 shares in the company, valued at $11,196,417.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,165 shares of company stock worth $330,119. 15.24% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BSRR. Tower Research Capital LLC TRC acquired a new stake in Sierra Bancorp in the 2nd quarter valued at about $118,000. Cornerstone Capital Management Holdings LLC. grew its stake in Sierra Bancorp by 12.4% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 800 shares during the last quarter. American International Group Inc. grew its stake in Sierra Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 478 shares during the last quarter. Trexquant Investment LP acquired a new stake in Sierra Bancorp in the 2nd quarter valued at about $204,000. Finally, Wells Fargo & Company MN grew its stake in Sierra Bancorp by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 196 shares during the last quarter. 53.13% of the stock is currently owned by hedge funds and other institutional investors.
About Sierra Bancorp
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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