Zacks Investment Research upgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. They currently have $31.00 target price on the financial services provider’s stock.
According to Zacks, “Sierra Bancorp is the bank holding company for the Bank of the Sierra. The Bank of the Sierra is the largest independent bank headquartered in the South Valley, and operates branch offices as well as real estate centers, agricultural credit centers and a bank card center. “
BSRR has been the subject of a number of other reports. Raymond James decreased their price target on Sierra Bancorp from $29.00 to $28.00 and set an outperform rating for the company in a report on Thursday, August 29th. ValuEngine raised Sierra Bancorp from a sell rating to a hold rating in a report on Friday, October 4th. Finally, BidaskClub downgraded Sierra Bancorp from a hold rating to a sell rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Sierra Bancorp currently has a consensus rating of Hold and a consensus price target of $29.50.
BSRR opened at $28.69 on Monday. The stock has a market capitalization of $429.11 million, a price-to-earnings ratio of 14.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day moving average price of $27.32 and a 200 day moving average price of $26.17. Sierra Bancorp has a 12 month low of $22.67 and a 12 month high of $28.85.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The company had revenue of $30.24 million during the quarter, compared to the consensus estimate of $29.82 million. Sierra Bancorp had a return on equity of 11.95% and a net margin of 25.98%. On average, research analysts anticipate that Sierra Bancorp will post 2.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Wednesday, October 30th. Sierra Bancorp’s payout ratio is currently 39.58%.
In other Sierra Bancorp news, EVP Kenneth Taylor sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $28.39, for a total transaction of $141,950.00. Following the completion of the sale, the executive vice president now directly owns 38,000 shares of the company’s stock, valued at approximately $1,078,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the executive vice president now directly owns 838 shares of the company’s stock, valued at $23,271.26. The disclosure for this sale can be found here. Insiders sold a total of 13,162 shares of company stock valued at $363,809 over the last three months. Company insiders own 10.34% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BSRR. Strs Ohio grew its holdings in Sierra Bancorp by 2.6% during the second quarter. Strs Ohio now owns 23,900 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 600 shares during the period. H D Vest Advisory Services acquired a new stake in Sierra Bancorp during the second quarter worth about $345,000. Wells Fargo & Company MN grew its holdings in Sierra Bancorp by 23.3% during the second quarter. Wells Fargo & Company MN now owns 31,963 shares of the financial services provider’s stock worth $867,000 after acquiring an additional 6,039 shares during the period. Acadian Asset Management LLC grew its holdings in Sierra Bancorp by 124.8% during the second quarter. Acadian Asset Management LLC now owns 32,197 shares of the financial services provider’s stock worth $873,000 after acquiring an additional 17,877 shares during the period. Finally, LSV Asset Management grew its holdings in Sierra Bancorp by 8.2% during the second quarter. LSV Asset Management now owns 153,986 shares of the financial services provider’s stock worth $4,176,000 after acquiring an additional 11,686 shares during the period. 54.49% of the stock is owned by hedge funds and other institutional investors.
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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