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

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

A number of other analysts have also commented on BSRR. ValuEngine lowered Sierra Bancorp from a hold rating to a sell rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded Sierra Bancorp from a sell rating to a hold rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $29.50.

BSRR stock traded down $0.15 during midday trading on Tuesday, hitting $24.95. 950 shares of the company’s stock were exchanged, compared to its average volume of 23,619. The stock’s fifty day moving average is $26.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $400.84 million, a P/E ratio of 13.07, a PEG ratio of 1.46 and a beta of 0.92. Sierra Bancorp has a one year low of $22.67 and a one year high of $31.18.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $30.05 million for the quarter, compared to analyst estimates of $30.03 million. Sierra Bancorp had a return on equity of 11.96% and a net margin of 24.91%. On average, analysts predict that Sierra Bancorp will post 2.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, July 31st. Sierra Bancorp’s payout ratio is 37.50%.

In related news, Director Robb Evans bought 1,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $532,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Olague bought 7,106 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $27.41 per share, for a total transaction of $194,775.46. Following the acquisition, the executive vice president now directly owns 31,297 shares of the company’s stock, valued at approximately $857,850.77. The disclosure for this purchase can be found here. Insiders own 10.34% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Sierra Bancorp by 17.5% during the fourth quarter. Bank of America Corp DE now owns 125,385 shares of the financial services provider’s stock worth $3,013,000 after acquiring an additional 18,679 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Sierra Bancorp by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 102,431 shares of the financial services provider’s stock worth $2,461,000 after acquiring an additional 5,050 shares in the last quarter. BlackRock Inc. raised its holdings in Sierra Bancorp by 4.6% during the fourth quarter. BlackRock Inc. now owns 1,065,723 shares of the financial services provider’s stock worth $25,609,000 after acquiring an additional 46,432 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Sierra Bancorp by 508.9% during the first quarter. BNP Paribas Arbitrage SA now owns 2,953 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 2,468 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Sierra Bancorp by 413.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,635 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 3,733 shares in the last quarter. Institutional investors and hedge funds own 52.75% of the company’s stock.

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.

Read More: What is the return on assets formula?

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.