Sierra Bancorp (NASDAQ:BSRR) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a report issued on Thursday, BidAskClub reports.

Several other research firms also recently issued reports on BSRR. Zacks Investment Research upgraded shares of Sierra Bancorp from a sell rating to a hold rating in a research note on Wednesday, August 14th. ValuEngine downgraded shares of Sierra Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $29.50.

Shares of BSRR stock opened at $25.02 on Thursday. Sierra Bancorp has a one year low of $22.67 and a one year high of $31.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average price of $25.88 and a 200 day moving average price of $25.85. The firm has a market capitalization of $372.11 million, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. Sierra Bancorp had a net margin of 24.91% and a return on equity of 11.71%. The firm had revenue of $30.05 million during the quarter, compared to analyst estimates of $30.03 million. As a group, equities analysts forecast that Sierra Bancorp will post 2.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.19 per share. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.04%. The ex-dividend date was Wednesday, July 31st. Sierra Bancorp’s payout ratio is currently 39.58%.

In other Sierra Bancorp news, Director Robb Evans acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $26.63 per share, for a total transaction of $26,630.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $532,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.34% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Sierra Bancorp by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,098,742 shares of the financial services provider’s stock valued at $26,403,000 after purchasing an additional 23,842 shares during the period. BlackRock Inc. boosted its stake in shares of 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 purchasing an additional 46,380 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sierra Bancorp by 1.0% in the second quarter. Vanguard Group Inc. now owns 582,935 shares of the financial services provider’s stock valued at $15,809,000 after purchasing an additional 5,672 shares during the period. Northern Trust Corp boosted its stake in shares of Sierra Bancorp by 1.3% in the second quarter. Northern Trust Corp now owns 456,485 shares of the financial services provider’s stock valued at $12,380,000 after purchasing an additional 5,825 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Sierra Bancorp by 0.7% in the second quarter. Renaissance Technologies LLC now owns 381,631 shares of the financial services provider’s stock valued at $10,350,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 52.69% of the company’s stock.

About Sierra Bancorp

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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