Sierra Bancorp (NASDAQ:BSRR) Downgraded to Hold Rating by Zacks Research

Sierra Bancorp (NASDAQ:BSRR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BSRR has been the subject of a number of other reports. Piper Sandler decreased their price objective on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. DA Davidson raised their price objective on Sierra Bancorp from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Sierra Bancorp Trading Up 0.6%

Shares of NASDAQ BSRR opened at $34.61 on Monday. Sierra Bancorp has a one year low of $23.53 and a one year high of $38.60. The firm has a market capitalization of $456.51 million, a PE ratio of 11.09 and a beta of 0.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $35.13 and a two-hundred day moving average price of $32.50.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, February 2nd. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. Sierra Bancorp had a return on equity of 11.82% and a net margin of 20.96%.The firm had revenue of $40.35 million during the quarter, compared to analyst estimates of $40.04 million. As a group, analysts predict that Sierra Bancorp will post 2.95 earnings per share for the current fiscal year.

Insider Activity at Sierra Bancorp

In related news, Director Julie G. Castle sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $37.93, for a total value of $28,447.50. Following the transaction, the director directly owned 2,431 shares of the company’s stock, valued at approximately $92,207.83. This trade represents a 23.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynda Scearcy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the transaction, the director directly owned 30,133 shares in the company, valued at $1,054,655. The trade was a 14.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,000 shares of company stock valued at $402,478. Corporate insiders own 11.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in shares of Sierra Bancorp by 2.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 17,871 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 480 shares in the last quarter. Rhumbline Advisers increased its position in Sierra Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock worth $590,000 after buying an additional 527 shares during the period. Panagora Asset Management Inc. increased its position in Sierra Bancorp by 1.2% in the 4th quarter. Panagora Asset Management Inc. now owns 48,191 shares of the financial services provider’s stock worth $1,575,000 after buying an additional 548 shares during the period. First Trust Advisors LP increased its position in Sierra Bancorp by 1.2% in the 2nd quarter. First Trust Advisors LP now owns 47,970 shares of the financial services provider’s stock worth $1,424,000 after buying an additional 577 shares during the period. Finally, Franklin Resources Inc. increased its position in Sierra Bancorp by 6.9% in the 4th quarter. Franklin Resources Inc. now owns 10,240 shares of the financial services provider’s stock worth $335,000 after buying an additional 662 shares during the period. 55.40% of the stock is owned by institutional investors.

About Sierra Bancorp

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.