Zacks Investment Research Downgrades Sierra Bancorp (BSRR) 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 Tuesday.

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 analysts have also issued reports on BSRR. Hovde Group set a $30.00 target price on Sierra Bancorp and gave the company a “hold” rating in a research report on Monday, February 5th. BidaskClub lowered Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. ValuEngine lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. FIG Partners assumed coverage on Sierra Bancorp in a research report on Thursday, December 21st. They set a “market-perform” rating and a $30.00 target price on the stock. Finally, DA Davidson lowered Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Sierra Bancorp currently has a consensus rating of “Hold” and a consensus target price of $29.17.

Shares of Sierra Bancorp (NASDAQ:BSRR) traded down $0.20 during midday trading on Tuesday, hitting $26.45. The company had a trading volume of 18,214 shares, compared to its average volume of 24,890. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock has a market cap of $408.29, a PE ratio of 19.45, a P/E/G ratio of 1.69 and a beta of 0.75. Sierra Bancorp has a 1 year low of $23.10 and a 1 year high of $29.50.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Sierra Bancorp had a return on equity of 10.34% and a net margin of 19.02%. The company had revenue of $27.91 million for the quarter, compared to analyst estimates of $26.90 million. analysts predict that Sierra Bancorp will post 1.98 EPS for the current year.

In other news, Director Gordon T. Woods sold 3,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $28.50, for a total value of $85,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robb Evans acquired 1,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $27.76 per share, for a total transaction of $27,760.00. Following the completion of the acquisition, the director now directly owns 16,200 shares of the company’s stock, valued at approximately $449,712. The disclosure for this purchase can be found here. 20.77% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in BSRR. Vanguard Group Inc. increased its holdings in shares of Sierra Bancorp by 9.7% in the second quarter. Vanguard Group Inc. now owns 499,960 shares of the financial services provider’s stock valued at $12,274,000 after purchasing an additional 44,242 shares during the period. Banc Funds Co. LLC increased its holdings in shares of Sierra Bancorp by 9.3% in the fourth quarter. Banc Funds Co. LLC now owns 486,746 shares of the financial services provider’s stock valued at $12,928,000 after purchasing an additional 41,434 shares during the period. Brown Advisory Inc. acquired a new position in shares of Sierra Bancorp in the third quarter valued at about $1,060,000. Dimensional Fund Advisors LP increased its holdings in shares of Sierra Bancorp by 3.6% in the third quarter. Dimensional Fund Advisors LP now owns 938,622 shares of the financial services provider’s stock valued at $25,484,000 after purchasing an additional 32,745 shares during the period. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Sierra Bancorp in the fourth quarter worth about $692,000. 49.19% of the stock is currently owned by institutional investors and hedge funds.

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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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