Sierra Bancorp (NASDAQ:BSRR) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a sell rating to a hold rating in a report issued on Wednesday morning, 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. “

BSRR has been the subject of a number of other reports. BidaskClub upgraded Sierra Bancorp from a sell rating to a hold rating in a research note on Wednesday. ValuEngine downgraded Sierra Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Sierra Bancorp has an average rating of Hold and a consensus price target of $29.50.

Sierra Bancorp stock opened at $24.07 on Wednesday. The business has a 50-day simple moving average of $25.65 and a two-hundred day simple moving average of $25.80. The company has a market cap of $397.88 million, a P/E ratio of 12.54, a P/E/G ratio of 1.45 and a beta of 0.92. Sierra Bancorp has a 52-week low of $22.67 and a 52-week high of $31.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $30.05 million during the quarter, compared to the consensus estimate of $30.03 million. Sierra Bancorp had a return on equity of 11.71% and a net margin of 24.91%. Research analysts anticipate that Sierra Bancorp will post 2.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Sierra Bancorp’s payout ratio is 39.58%.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of 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 valued at $72,000 after acquiring an additional 2,468 shares during the period. Marshall Wace LLP bought a new position in shares of Sierra Bancorp during the 2nd quarter valued at approximately $253,000. Gradient Investments LLC bought a new position in shares of Sierra Bancorp during the 2nd quarter valued at approximately $271,000. Pacific Wealth Strategies Group Inc. grew its stake in shares of 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 valued at $272,000 after acquiring an additional 1,250 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Sierra Bancorp during the 2nd quarter valued at approximately $338,000. Institutional investors own 53.18% 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.

Further Reading: What is the Quick Ratio?

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