Sierra Bancorp (NASDAQ:BSRR) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

Several other research analysts also recently weighed in on BSRR. ValuEngine upgraded shares of Sierra Bancorp from a sell rating to a hold rating in a research report on Friday, October 4th. Raymond James decreased their price target on shares of Sierra Bancorp from $29.00 to $28.00 and set an outperform rating on the stock in a research report on Thursday, August 29th. Finally, Zacks Investment Research upgraded shares of Sierra Bancorp from a strong sell rating to a hold rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $28.50.

BSRR traded down $0.07 during midday trading on Friday, reaching $27.66. The company’s stock had a trading volume of 18,500 shares, compared to its average volume of 27,836. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. Sierra Bancorp has a 1 year low of $22.67 and a 1 year high of $28.92. The firm has a market capitalization of $429.93 million, a price-to-earnings ratio of 14.41 and a beta of 0.91. The stock’s 50-day moving average is $26.82 and its 200-day moving average is $26.04.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. Sierra Bancorp had a net margin of 25.98% and a return on equity of 12.15%. The business had revenue of $30.24 million for the quarter, compared to the consensus estimate of $29.82 million. As a group, equities research analysts forecast that Sierra Bancorp will post 2.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.76 annualized dividend and a yield of 2.75%. Sierra Bancorp’s payout ratio is presently 39.58%.

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $26.81, for a total value of $134,050.00. Following the transaction, the director now directly owns 381,476 shares in the company, valued at $10,227,371.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James F. Gardunio sold 3,162 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $27.77, for a total transaction of $87,808.74. Following the completion of the transaction, the executive vice president now owns 838 shares in the company, valued at $23,271.26. The disclosure for this sale can be found here. 10.34% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in BSRR. BlackRock Inc. raised its position in shares of Sierra Bancorp by 4.5% during the 2nd quarter. BlackRock Inc. now owns 1,076,203 shares of the financial services provider’s stock valued at $29,185,000 after purchasing an additional 46,380 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Sierra Bancorp during the 3rd quarter valued at $491,000. Acadian Asset Management LLC raised its position in shares of Sierra Bancorp by 124.8% during the 2nd quarter. Acadian Asset Management LLC now owns 32,197 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 17,877 shares during the period. H D Vest Advisory Services bought a new stake in shares of Sierra Bancorp during the 2nd quarter valued at $345,000. Finally, Prudential Financial Inc. bought a new stake in shares of Sierra Bancorp during the 2nd quarter valued at $338,000. Hedge funds and other institutional investors own 53.88% 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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