Sierra Bancorp (BSRR) Downgraded by Zacks Investment Research to Hold
Sierra Bancorp (NASDAQ:BSRR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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 research firms have also recently weighed in on BSRR. BidaskClub raised shares of Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Hovde Group raised their target price on shares of Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a research note on Friday, July 28th. ValuEngine cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. DA Davidson raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, May 23rd. Finally, Raymond James Financial, Inc. raised shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.95.
Sierra Bancorp (NASDAQ:BSRR) traded down 0.68% during trading on Thursday, reaching $24.87. 33,337 shares of the company traded hands. Sierra Bancorp has a 12 month low of $17.25 and a 12 month high of $29.50. The company has a market cap of $344.15 million, a PE ratio of 18.03 and a beta of 0.88. The company’s 50-day moving average is $25.85 and its 200 day moving average is $25.75.
Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%. The business had revenue of $23.20 million during the quarter, compared to analysts’ expectations of $22.80 million. On average, analysts anticipate that Sierra Bancorp will post $1.52 earnings per share for the current year.
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In other news, Director Robert L. Fields sold 2,465 shares of Sierra Bancorp stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total transaction of $66,875.45. Following the completion of the sale, the director now owns 410,078 shares of the company’s stock, valued at $11,125,416.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Fields sold 9,600 shares of Sierra Bancorp stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.14, for a total value of $260,544.00. Following the sale, the director now directly owns 412,543 shares of the company’s stock, valued at approximately $11,196,417.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,165 shares of company stock valued at $330,119. Company insiders own 15.24% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Sierra Bancorp during the second quarter worth $118,000. State Street Corp lifted its holdings 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 in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Sierra Bancorp by 12.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock worth $177,000 after buying an additional 800 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Sierra Bancorp during the second quarter worth $244,000. Finally, Dimensional Fund Advisors LP lifted its holdings 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 in the last quarter. 53.13% of the stock is owned by 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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