BidaskClub Downgrades Sierra Bancorp (NASDAQ:BSRR) to Sell

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

Several other equities research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Sierra Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Zacks Investment Research upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.50.

BSRR stock traded up $0.07 on Tuesday, hitting $27.54. 13,598 shares of the company were exchanged, compared to its average volume of 36,304. Sierra Bancorp has a twelve month low of $22.67 and a twelve month high of $30.15. 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 business’s fifty day moving average is $28.38 and its two-hundred day moving average is $26.76. The stock has a market capitalization of $426.97 million, a price-to-earnings ratio of 14.34 and a beta of 0.95.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Sierra Bancorp had a net margin of 25.98% and a return on equity of 11.95%. The company had revenue of $30.24 million during the quarter, compared to the consensus estimate of $29.82 million. Equities research analysts expect that Sierra Bancorp will post 2.28 earnings per share for the current year.

In other news, EVP James F. Gardunio sold 3,162 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $27.77, for a total value of $87,808.74. Following the completion of the transaction, the executive vice president now directly owns 838 shares in the company, valued at $23,271.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $26.81, for a total transaction of $134,050.00. Following the completion of the transaction, the director now owns 381,476 shares of the company’s stock, valued at $10,227,371.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,162 shares of company stock valued at $363,809. 10.34% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Sierra Bancorp by 12.1% in the third quarter. First Trust Advisors LP now owns 40,930 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 4,423 shares during the period. Zebra Capital Management LLC purchased a new position in shares of Sierra Bancorp in the third quarter valued at $221,000. Rhumbline Advisers boosted its stake in shares of Sierra Bancorp by 8.7% in the third quarter. Rhumbline Advisers now owns 22,500 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 1,810 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Sierra Bancorp by 29.9% in the third quarter. Russell Investments Group Ltd. now owns 20,228 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 4,662 shares during the period. Finally, State Street Corp boosted its stake in shares of Sierra Bancorp by 4.8% in the third quarter. State Street Corp now owns 264,714 shares of the financial services provider’s stock valued at $7,031,000 after purchasing an additional 12,076 shares during the period. Institutional investors and hedge funds own 54.49% 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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