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

BidaskClub downgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a buy rating to a hold rating in a research note published on Saturday, November 9th, BidAskClub reports.

A number of other research firms have also recently commented on BSRR. Zacks Investment Research raised shares of Sierra Bancorp from a strong sell rating to a hold rating in a research report on Thursday, October 24th. ValuEngine raised shares of Sierra Bancorp from a sell rating to a hold rating in a research report on Friday, October 4th. Finally, Raymond James reduced their target price on shares of Sierra Bancorp from $29.00 to $28.00 and set an outperform rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $29.00.

Sierra Bancorp stock traded up $0.12 during midday trading on Friday, hitting $26.86. 17,400 shares of the stock were exchanged, compared to its average volume of 27,448. The company has a fifty day simple moving average of $27.16 and a two-hundred day simple moving average of $26.12. Sierra Bancorp has a 52 week low of $22.67 and a 52 week high of $28.24. The stock has a market capitalization of $409.84 million, a PE ratio of 13.96 and a beta of 0.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, October 21st. The financial services provider reported $0.58 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 firm had revenue of $30.24 million for the quarter, compared to the consensus estimate of $29.82 million. As a group, equities research analysts anticipate that Sierra Bancorp will post 2.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Wednesday, October 30th. Sierra Bancorp’s dividend payout ratio (DPR) is presently 39.58%.

In other news, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $26.81, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James F. Gardunio sold 3,162 shares of the company’s stock in a transaction that occurred 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 sale, 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 owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Sierra Bancorp by 4.5% in the second quarter. BlackRock Inc. now owns 1,076,203 shares of the financial services provider’s stock valued at $29,185,000 after acquiring an additional 46,380 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sierra Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 582,935 shares of the financial services provider’s stock worth $15,809,000 after buying an additional 5,672 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Sierra Bancorp by 1.3% during the 2nd quarter. Northern Trust Corp now owns 456,485 shares of the financial services provider’s stock worth $12,380,000 after buying an additional 5,825 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Sierra Bancorp by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 381,631 shares of the financial services provider’s stock worth $10,350,000 after buying an additional 2,500 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Sierra Bancorp by 4.8% during the 3rd quarter. State Street Corp now owns 264,714 shares of the financial services provider’s stock worth $7,031,000 after buying an additional 12,076 shares in the last quarter. 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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