Sierra Bancorp (NASDAQ:BSRR) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a buy rating in a report published on Wednesday morning, BidAskClub reports.

Several other research analysts have also commented on the company. ValuEngine lowered Sierra Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised Sierra Bancorp from a sell rating to a hold rating in a research report on Monday, September 16th. Finally, Raymond James reduced their price target on 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 four have given a buy rating to the company’s stock. Sierra Bancorp has a consensus rating of Buy and a consensus target price of $29.00.

BSRR opened at $26.66 on Wednesday. The firm has a market cap of $408.96 million, a price-to-earnings ratio of 13.89, a PEG ratio of 1.49 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. Sierra Bancorp has a 12 month low of $22.67 and a 12 month high of $31.02. The stock has a fifty day moving average price of $25.19 and a 200-day moving average price of $25.58.

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

Large investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. increased its stake in Sierra Bancorp by 7.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 14,626 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 1,048 shares during the last quarter. Marshall Wace LLP acquired a new stake in Sierra Bancorp during the second quarter worth $253,000. Bank of America Corp DE increased its stake in Sierra Bancorp by 2.1% during the second quarter. Bank of America Corp DE now owns 107,220 shares of the financial services provider’s stock worth $2,908,000 after acquiring an additional 2,170 shares during the last quarter. Vanguard Group Inc. increased its stake in Sierra Bancorp by 1.0% during the second quarter. Vanguard Group Inc. now owns 582,935 shares of the financial services provider’s stock worth $15,809,000 after acquiring an additional 5,672 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Sierra Bancorp by 4.5% during the second quarter. BlackRock Inc. now owns 1,076,203 shares of the financial services provider’s stock worth $29,185,000 after acquiring an additional 46,380 shares during the last quarter. 53.82% of the stock is currently owned by institutional investors.

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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