Sierra Bancorp (NASDAQ:BSRR) Cut to Hold at BidaskClub

Sierra Bancorp (NASDAQ:BSRR) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday, September 14th.

Several other equities analysts have also recently commented on BSRR. Zacks Investment Research raised shares of Sierra Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Hovde Group reissued a “buy” rating and set a $32.00 target price on shares of Sierra Bancorp in a research report on Thursday, July 26th. Finally, Sandler O’Neill reaffirmed a “neutral” rating on shares of Sierra Bancorp in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.00.

Shares of Sierra Bancorp stock traded down $0.76 during mid-day trading on Friday, hitting $27.73. 35,114 shares of the stock were exchanged, compared to its average volume of 30,826. Sierra Bancorp has a 12 month low of $24.32 and a 12 month high of $31.18. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a market cap of $441.10 million, a P/E ratio of 17.89, a P/E/G ratio of 1.82 and a beta of 0.67.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Sierra Bancorp had a net margin of 21.45% and a return on equity of 10.98%. The firm had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $27.43 million. On average, equities analysts anticipate that Sierra Bancorp will post 1.99 EPS for the current year.

In other Sierra Bancorp news, Director Robb Evans bought 1,000 shares of the stock in a transaction on Thursday, July 26th. The shares were acquired at an average price of $29.98 per share, with a total value of $29,980.00. Following the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $479,680. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James F. Gardunio sold 2,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $30.22, for a total transaction of $60,440.00. Following the sale, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $60,440. The disclosure for this sale can be found here. Insiders sold a total of 9,301 shares of company stock worth $275,320 in the last ninety days. 10.21% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Sierra Bancorp by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,040,181 shares of the financial services provider’s stock valued at $29,375,000 after acquiring an additional 37,646 shares during the period. BlackRock Inc. grew its position in shares of Sierra Bancorp by 10.2% during the 2nd quarter. BlackRock Inc. now owns 949,033 shares of the financial services provider’s stock valued at $26,801,000 after purchasing an additional 87,687 shares in the last quarter. Northern Trust Corp grew its position in shares of Sierra Bancorp by 3.7% during the 2nd quarter. Northern Trust Corp now owns 458,960 shares of the financial services provider’s stock valued at $12,961,000 after purchasing an additional 16,494 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Sierra Bancorp by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 315,900 shares of the financial services provider’s stock valued at $8,921,000 after purchasing an additional 35,600 shares in the last quarter. Finally, FMR LLC grew its position in shares of Sierra Bancorp by 2.0% during the 2nd quarter. FMR LLC now owns 153,785 shares of the financial services provider’s stock valued at $4,343,000 after purchasing an additional 3,032 shares in the last quarter. 51.91% of the stock is currently owned by institutional investors and hedge funds.

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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