Sierra Bancorp (NASDAQ:BSRR) has received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.75.
A number of equities analysts have weighed in on BSRR shares. Zacks Investment Research lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. DA Davidson raised Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, May 23rd. ValuEngine raised Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $27.00 target price on shares of Sierra Bancorp in a research report on Friday, July 14th. Finally, Raymond James Financial, Inc. upgraded Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Tuesday, July 25th.
In related news, Director Robert L. Fields sold 9,600 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.14, for a total value of $260,544.00. Following the transaction, the director now directly owns 412,543 shares of the company’s stock, valued at approximately $11,196,417.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Fields sold 2,465 shares of Sierra Bancorp 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 directly owns 410,078 shares in the company, valued at $11,125,416.14. The disclosure for this sale can be found here. Insiders sold a total of 12,165 shares of company stock valued at $330,119 over the last ninety days. 15.24% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of BSRR. American International Group Inc. increased its position in Sierra Bancorp by 7.1% in the first 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 period. Trexquant Investment LP bought a new position in shares of Sierra Bancorp during the second quarter worth approximately $204,000. Wells Fargo & Company MN increased its position in shares of Sierra Bancorp by 2.4% in the second 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. Russell Investments Group Ltd. acquired a new position in shares of Sierra Bancorp during the fourth quarter valued at about $213,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Sierra Bancorp during the second quarter valued at about $234,000. Institutional investors and hedge funds own 54.23% of the company’s stock.
Shares of Sierra Bancorp (NASDAQ BSRR) traded down 2.26% during midday trading on Monday, reaching $25.04. 36,588 shares of the company were exchanged. The company has a 50 day moving average price of $25.22 and a 200-day moving average price of $26.14. The stock has a market capitalization of $346.50 million, a P/E ratio of 18.16 and a beta of 0.86. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $23.20 million for the quarter, compared to analyst estimates of $22.80 million. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. On average, analysts forecast that Sierra Bancorp will post $1.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, August 1st. Sierra Bancorp’s payout ratio is currently 40.88%.
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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