Sierra Bancorp (NASDAQ:BSRR) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

A number of other equities analysts have also recently weighed in on BSRR. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of Farmland Partners from a hold rating to a sell rating in a research report on Friday, July 12th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Sierra Bancorp has a consensus rating of Hold and a consensus target price of $30.33.

Shares of NASDAQ BSRR opened at $24.71 on Friday. The stock’s fifty day moving average price is $26.01. The company has a market capitalization of $396.09 million, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92. Sierra Bancorp has a twelve month low of $22.67 and a twelve month high of $31.18. 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 (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $29.50 million. Sierra Bancorp had a net margin of 24.90% and a return on equity of 11.80%. As a group, analysts forecast that Sierra Bancorp will post 2.25 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.19 dividend. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, July 31st. Sierra Bancorp’s payout ratio is currently 37.50%.

In related news, Director Robb Evans acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of $26.63 per share, with a total value of $26,630.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $532,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Olague acquired 14,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $27.33 per share, for a total transaction of $382,620.00. Following the completion of the transaction, the executive vice president now directly owns 30,341 shares in the company, valued at approximately $829,219.53. The disclosure for this purchase can be found here. Insiders purchased a total of 22,106 shares of company stock worth $604,025 over the last ninety days. 10.34% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Sierra Bancorp by 270.3% in the 4th quarter. Macquarie Group Ltd. now owns 1,233 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Sierra Bancorp by 508.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,953 shares of the financial services provider’s stock worth $72,000 after buying an additional 2,468 shares in the last quarter. Citigroup Inc. lifted its position in Sierra Bancorp by 18.1% during the 4th quarter. Citigroup Inc. now owns 4,468 shares of the financial services provider’s stock worth $107,000 after buying an additional 685 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Sierra Bancorp by 413.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,635 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of Sierra Bancorp during the 2nd quarter worth about $271,000. 52.69% 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.

Featured Story: Key terms to understand channel trading

Receive News & Ratings for Sierra Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.