Sierra Bancorp (NASDAQ:BSRR) Stock Rating Lowered by BidaskClub

Sierra Bancorp (NASDAQ:BSRR) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company. Sierra Bancorp presently has an average rating of “Hold” and an average target price of $30.33.

NASDAQ:BSRR opened at $25.84 on Friday. Sierra Bancorp has a 52 week low of $22.67 and a 52 week high of $31.18. The company’s 50 day moving average price is $25.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $398.23 million, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. The business had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $29.50 million. Sierra Bancorp had a net margin of 24.90% and a return on equity of 11.80%. On average, equities analysts anticipate that Sierra Bancorp will post 2.25 earnings per share for the current fiscal year.

In other news, Director Robb Evans purchased 1,000 shares of Sierra Bancorp stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of $26.63 per share, for a total transaction of $26,630.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $532,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Olague purchased 7,106 shares of Sierra Bancorp stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $27.41 per share, with a total value of $194,775.46. Following the completion of the acquisition, the executive vice president now owns 31,297 shares in the company, valued at $857,850.77. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 22,106 shares of company stock worth $604,025. Company insiders own 10.34% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Sierra Bancorp by 17.5% during the 4th quarter. Bank of America Corp DE now owns 125,385 shares of the financial services provider’s stock valued at $3,013,000 after buying an additional 18,679 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Sierra Bancorp by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 102,431 shares of the financial services provider’s stock worth $2,461,000 after purchasing an additional 5,050 shares during the last quarter. BlackRock Inc. lifted its holdings in Sierra Bancorp by 4.6% in the 4th quarter. BlackRock Inc. now owns 1,065,723 shares of the financial services provider’s stock worth $25,609,000 after purchasing an additional 46,432 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Sierra Bancorp by 508.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,953 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 2,468 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Sierra Bancorp by 413.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,635 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 3,733 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

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