Sierra Bancorp (BSRR) Raised 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 research note issued to investors on Friday. The firm currently has a $28.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.59% from the stock’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. “
BSRR has been the topic of a number of other reports. DA Davidson upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, May 23rd. ValuEngine lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Hovde Group lifted their price objective on Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research report on Friday, July 28th. BidaskClub upgraded Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. upgraded Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research 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 company. The stock has an average rating of “Hold” and an average target price of $27.95.
Shares of Sierra Bancorp (BSRR) traded down 0.261% during mid-day trading on Friday, reaching $24.795. The company had a trading volume of 46,465 shares. The firm has a market capitalization of $343.11 million, a PE ratio of 17.980 and a beta of 0.88. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50. The stock has a 50 day moving average price of $25.76 and a 200 day moving average price of $25.74.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The business had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. On average, equities analysts forecast that Sierra Bancorp will post $1.52 earnings per share for the current year.
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In other Sierra Bancorp 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 transaction, the director now owns 410,078 shares in the company, valued at $11,125,416.14. The sale was disclosed in a document filed 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 shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the transaction, the director now 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. Insiders have sold 12,165 shares of company stock valued at $330,119 in the last quarter. 15.24% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new position in Sierra Bancorp during the second quarter valued at $118,000. Smith Asset Management Group LP raised its stake in Sierra Bancorp by 1.9% during the third quarter. Smith Asset Management Group LP now owns 5,770 shares of the financial services provider’s stock valued at $108,000 after buying an additional 110 shares during the last quarter. American International Group Inc. raised its stake in Sierra Bancorp by 7.1% during the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after buying an additional 478 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in 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 valued at $177,000 after buying an additional 800 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Sierra Bancorp during the fourth quarter valued at $213,000. Institutional investors and hedge funds own 53.13% of the company’s stock.
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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