Sierra Bancorp (NASDAQ:BSRR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a research report sent to investors on Friday, Zacks.com reports.

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. “

A number of other research firms have also recently commented on BSRR. BidaskClub cut shares of Zebra Technologies from a hold rating to a sell rating in a research report on Friday, May 24th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $30.33.

NASDAQ BSRR opened at $26.42 on Friday. The firm has a 50-day moving average of $25.92. Sierra Bancorp has a 12 month low of $22.67 and a 12 month high of $31.18. 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 firm has a market capitalization of $412.95 million, a PE ratio of 13.76, a P/E/G ratio of 1.50 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, April 22nd. The financial services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.06. Sierra Bancorp had a net margin of 24.90% and a return on equity of 11.80%. The company had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $29.50 million. On average, equities research analysts anticipate that Sierra Bancorp will post 2.25 EPS for the current fiscal year.

In other Sierra Bancorp news, EVP Michael Olague purchased 7,106 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $27.41 per share, for a total transaction of $194,775.46. Following the completion of the purchase, the executive vice president now directly owns 31,297 shares of the company’s stock, valued at $857,850.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robb Evans purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average price 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 of the company’s stock, valued at $532,600. The disclosure for this purchase can be found here. Insiders have acquired 22,106 shares of company stock worth $604,025 over the last quarter. Insiders own 10.34% of the company’s stock.

A number of large investors have recently modified their holdings of BSRR. Pacific Wealth Strategies Group Inc. increased its holdings in Sierra Bancorp by 14.2% during the 2nd quarter. Pacific Wealth Strategies Group Inc. now owns 10,031 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 1,250 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Sierra Bancorp by 71.9% in the 1st quarter. Kennedy Capital Management Inc. now owns 245,651 shares of the financial services provider’s stock valued at $5,969,000 after acquiring an additional 102,723 shares during the last quarter. Walthausen & Co. LLC bought a new stake in shares of Sierra Bancorp in the 1st quarter valued at approximately $1,387,000. Acadian Asset Management LLC increased its holdings in shares of Sierra Bancorp by 72.3% in the 1st quarter. Acadian Asset Management LLC now owns 14,320 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 6,009 shares during the last quarter. Finally, Martingale Asset Management L P increased its holdings in shares of Sierra Bancorp by 5.5% in the 1st quarter. Martingale Asset Management L P now owns 115,336 shares of the financial services provider’s stock valued at $2,803,000 after acquiring an additional 6,002 shares during the last quarter. 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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