Sierra Bancorp (BSRR) Receives Average Recommendation of “Hold” from Brokerages
Sierra Bancorp (NASDAQ:BSRR) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.69.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Friday, September 15th. ValuEngine downgraded Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Hovde Group boosted their price target on Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a research note on Friday, July 28th. DA Davidson downgraded Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, BidaskClub raised Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd.
Shares of Sierra Bancorp (NASDAQ BSRR) opened at 27.55 on Wednesday. The stock has a market cap of $381.24 million, a price-to-earnings ratio of 19.98 and a beta of 0.86. Sierra Bancorp has a 12 month low of $17.25 and a 12 month high of $29.50. The firm has a 50-day moving average price of $26.41 and a 200-day moving average price of $25.64.
Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $24.35 million for the quarter, compared to the consensus estimate of $23.90 million. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.97%. Equities analysts expect that Sierra Bancorp will post $1.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.56 annualized dividend and a dividend yield of 2.03%. Sierra Bancorp’s payout ratio is 37.33%.
In other Sierra Bancorp news, Director Robert L. Fields sold 2,465 shares of the firm’s 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 sale, the director now owns 410,078 shares of the company’s stock, valued at approximately $11,125,416.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Fields sold 9,600 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the completion of the sale, the director now directly owns 412,543 shares in the company, valued at approximately $11,196,417.02. The disclosure for this sale can be found here. Insiders have sold a total of 12,165 shares of company stock valued at $330,119 in the last quarter. 15.24% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in Sierra Bancorp during the 2nd quarter worth approximately $118,000. American International Group Inc. grew its position in shares of 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 worth $197,000 after buying an additional 478 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of 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 worth $177,000 after buying an additional 800 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Sierra Bancorp in the 2nd quarter worth approximately $204,000. Finally, Wells Fargo & Company MN grew its position in shares of 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 worth $205,000 after buying an additional 196 shares during the last quarter. 53.12% of the stock is currently 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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