Sierra Bancorp (NASDAQ:BSRR) Upgraded at BidaskClub

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

Several other research analysts have also weighed in on BSRR. Zacks Investment Research upgraded shares of Sierra Bancorp from a hold rating to a strong-buy rating and set a $22.00 price target for the company in a research report on Friday, July 24th. ValuEngine raised shares of Sierra Bancorp from a sell rating to a hold rating in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Sierra Bancorp has a consensus rating of Buy and a consensus price target of $26.67.

Shares of Sierra Bancorp stock traded up $0.08 during trading hours on Wednesday, reaching $19.39. 1,936 shares of the stock traded hands, compared to its average volume of 48,275. Sierra Bancorp has a one year low of $13.05 and a one year high of $30.15. The firm has a market capitalization of $292.77 million, a price-to-earnings ratio of 8.70 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $18.07 and a 200 day moving average price of $19.75.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, July 20th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Sierra Bancorp had a net margin of 26.05% and a return on equity of 10.91%. The company had revenue of $31.04 million during the quarter, compared to analyst estimates of $30.00 million. Sell-side analysts anticipate that Sierra Bancorp will post 2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Friday, July 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, July 30th. Sierra Bancorp’s dividend payout ratio is presently 34.33%.

Several institutional investors have recently added to or reduced their stakes in BSRR. BlackRock Inc. lifted its position in shares of Sierra Bancorp by 1.8% in the 1st quarter. BlackRock Inc. now owns 1,248,781 shares of the financial services provider’s stock worth $21,954,000 after acquiring an additional 22,584 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sierra Bancorp by 5.6% during the first quarter. Geode Capital Management LLC now owns 223,742 shares of the financial services provider’s stock valued at $3,932,000 after purchasing an additional 11,897 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Sierra Bancorp by 3.5% during the second quarter. Foundry Partners LLC now owns 186,796 shares of the financial services provider’s stock valued at $3,527,000 after purchasing an additional 6,371 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sierra Bancorp by 55.1% during the second quarter. Goldman Sachs Group Inc. now owns 150,080 shares of the financial services provider’s stock valued at $2,834,000 after purchasing an additional 53,313 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Sierra Bancorp by 30.5% in the 4th quarter. Bank of New York Mellon Corp now owns 133,313 shares of the financial services provider’s stock worth $3,883,000 after purchasing an additional 31,131 shares in the last quarter. 54.70% 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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