Sierra Bancorp (BSRR) Lifted to “Buy” at Zacks Investment Research
Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $28.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.54% from the company’s previous close.
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. “
Several other brokerages also recently issued reports on BSRR. BidaskClub upgraded Sierra Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Hovde Group increased their price target on Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a report on Friday, July 28th. ValuEngine downgraded Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. DA Davidson upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, May 23rd. Finally, Raymond James Financial, Inc. upgraded 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.95.
Sierra Bancorp (NASDAQ:BSRR) traded down 1.24% during trading on Thursday, hitting $24.66. The company had a trading volume of 29,281 shares. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50. The company has a market capitalization of $341.25 million, a price-to-earnings ratio of 17.88 and a beta of 0.88. The firm has a 50-day moving average of $25.76 and a 200 day moving average of $25.86.
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, topping the consensus estimate of $0.35 by $0.02. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. The company had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. On average, equities research analysts forecast that Sierra Bancorp will post $1.52 earnings per share for the current year.
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In related news, Director Robert L. Fields sold 9,600 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $27.14, for a total transaction of $260,544.00. Following the completion of the transaction, the director now directly owns 412,543 shares in the company, valued at $11,196,417.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Fields sold 2,465 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total value of $66,875.45. Following the transaction, the director now owns 410,078 shares of the company’s stock, valued at $11,125,416.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,165 shares of company stock valued at $330,119. 15.24% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of BSRR. Wellington Management Group LLP grew its holdings in shares of Sierra Bancorp by 143.4% during the first quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock worth $20,811,000 after buying an additional 446,962 shares in the last quarter. FMR LLC grew its holdings in shares of Sierra Bancorp by 64.3% during the first quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock worth $10,667,000 after buying an additional 152,200 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sierra Bancorp by 22.4% during the first quarter. Vanguard Group Inc. now owns 455,718 shares of the financial services provider’s stock worth $12,500,000 after buying an additional 83,492 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Sierra Bancorp by 43.4% during the first quarter. Renaissance Technologies LLC now owns 214,600 shares of the financial services provider’s stock worth $5,886,000 after buying an additional 64,905 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sierra Bancorp by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 876,353 shares of the financial services provider’s stock worth $24,038,000 after buying an additional 48,508 shares in the last quarter. Institutional investors and hedge funds own 53.13% of the company’s stock.
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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