Sierra Bancorp (NASDAQ:BSRR) Downgraded to Hold Rating by Zacks Research

Sierra Bancorp (NASDAQ:BSRR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a report on Friday, March 27th. DA Davidson lifted their target price on Sierra Bancorp from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler lowered their target price on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sierra Bancorp presently has an average rating of “Hold” and a consensus target price of $37.00.

Sierra Bancorp Price Performance

Shares of BSRR opened at $34.61 on Monday. The firm has a market capitalization of $456.51 million, a price-to-earnings ratio of 11.09 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Sierra Bancorp has a one year low of $23.53 and a one year high of $38.60. The stock’s fifty day moving average is $35.13 and its 200-day moving average is $32.50.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, February 2nd. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $40.35 million for the quarter, compared to analyst estimates of $40.04 million. Sierra Bancorp had a return on equity of 11.82% and a net margin of 20.96%. Equities analysts anticipate that Sierra Bancorp will post 2.95 EPS for the current year.

Insider Buying and Selling

In related news, Director James C. Holly sold 5,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $37.93, for a total value of $189,650.00. Following the completion of the transaction, the director owned 302,970 shares in the company, valued at $11,491,652.10. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie G. Castle sold 750 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the completion of the transaction, the director owned 2,431 shares of the company’s stock, valued at $92,207.83. This trade represents a 23.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,000 shares of company stock valued at $402,478 over the last three months. Company insiders own 11.86% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Sierra Bancorp by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 733,567 shares of the financial services provider’s stock valued at $21,207,000 after purchasing an additional 22,931 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Sierra Bancorp in the 4th quarter valued at $8,465,000. Ameriprise Financial Inc. boosted its position in shares of Sierra Bancorp by 16.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 238,620 shares of the financial services provider’s stock valued at $7,085,000 after purchasing an additional 33,048 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Sierra Bancorp by 5.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 132,990 shares of the financial services provider’s stock valued at $4,346,000 after purchasing an additional 6,432 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Sierra Bancorp by 8.7% in the 4th quarter. Empowered Funds LLC now owns 79,990 shares of the financial services provider’s stock valued at $2,614,000 after purchasing an additional 6,432 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.