Zacks Investment Research lowered shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a research note published on Thursday.
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. “
A number of other research firms also recently commented on BSRR. BidaskClub raised Sierra Bancorp from a strong sell rating to a sell rating in a report on Wednesday, August 2nd. DA Davidson downgraded Sierra Bancorp from a buy rating to a neutral rating in a report on Tuesday, October 24th. Hovde Group raised their target price on Sierra Bancorp from $26.50 to $27.75 and gave the company a market perform rating in a report on Friday, July 28th. ValuEngine downgraded Sierra Bancorp from a buy rating to a hold rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. raised Sierra Bancorp from a market perform rating to an outperform rating and set a $27.00 target price for the company in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $28.15.
Sierra Bancorp (BSRR) traded up 1.08% during trading on Thursday, reaching $27.20. 20,270 shares of the company’s stock were exchanged. The firm has a market capitalization of $376.39 million, a price-to-earnings ratio of 19.72 and a beta of 0.86. The stock has a 50-day moving average price of $26.60 and a 200 day moving average price of $25.67. Sierra Bancorp has a 52 week low of $17.25 and a 52 week high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Sierra Bancorp had a return on equity of 9.97% and a net margin of 21.59%. The company had revenue of $24.35 million during the quarter, compared to the consensus estimate of $23.90 million. Equities research analysts forecast that Sierra Bancorp will post $1.46 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 1st. Sierra Bancorp’s payout ratio is 37.33%.
In related news, Director Robert L. Fields sold 9,600 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the completion of the transaction, the director now 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 the SEC website. Also, Director Robert L. Fields sold 2,465 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.13, for a total transaction of $66,875.45. Following the completion of the transaction, the director now directly owns 410,078 shares of the company’s stock, valued at approximately $11,125,416.14. The disclosure for this sale can be found here. Insiders own 15.24% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in Sierra Bancorp in the 2nd quarter valued at about $118,000. Cornerstone Capital Management Holdings LLC. raised its stake in Sierra Bancorp by 12.4% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 800 shares during the last quarter. American International Group Inc. raised its stake in Sierra Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 478 shares during the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the 2nd quarter valued at about $204,000. Finally, Wells Fargo & Company MN raised its stake in Sierra Bancorp by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 196 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.
Sierra Bancorp Company Profile
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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