Sierra Bancorp (NASDAQ:BSRR) Downgraded by BidaskClub

Share on StockTwits

BidaskClub cut shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

BSRR has been the topic of a number of other research reports. ValuEngine lowered shares of Sierra Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Sierra Bancorp from a sell rating to a hold rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $29.50.

NASDAQ:BSRR opened at $25.02 on Thursday. The firm has a market capitalization of $372.11 million, a P/E ratio of 11.44, a PEG ratio of 1.35 and a beta of 0.92. Sierra Bancorp has a 1-year low of $22.67 and a 1-year high of $31.18. The company’s fifty day moving average price is $25.88 and its 200-day moving average price is $25.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.04%. The ex-dividend date was Wednesday, July 31st. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.18. Sierra Bancorp’s dividend payout ratio (DPR) is currently 39.58%.

In other news, Director Robb Evans purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $26.63 per share, for a total transaction of $26,630.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $532,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.34% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted 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 valued at $3,013,000 after purchasing an additional 18,679 shares in the last quarter. BNP Paribas Arbitrage SA lifted 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 valued at $72,000 after purchasing an additional 2,468 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $2,461,000 after purchasing an additional 5,050 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted 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 valued at $111,000 after purchasing an additional 3,733 shares in the last quarter. Finally, Walthausen & Co. LLC purchased a new position in Sierra Bancorp during the first quarter valued at $1,387,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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: Marijuana Stocks

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.