Sierra Bancorp (NASDAQ:BSRR) Upgraded at Zacks Investment Research

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

A number of other equities research analysts have also recently commented on the company. ValuEngine cut Sierra Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Raymond James cut their target price on Sierra Bancorp from $29.00 to $28.00 and set an outperform rating on the stock in a research note on Thursday, August 29th. Finally, BidaskClub raised Sierra Bancorp from a sell rating to a hold rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Sierra Bancorp currently has an average rating of Buy and an average price target of $29.00.

NASDAQ BSRR opened at $26.73 on Monday. Sierra Bancorp has a 12 month low of $22.67 and a 12 month high of $31.02. The stock has a market cap of $411.83 million, a P/E ratio of 13.92, a P/E/G ratio of 1.50 and a beta of 0.91. The stock’s fifty day moving average price is $25.17 and its 200-day moving average price is $25.58. 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 released its earnings results on Monday, July 22nd. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. Sierra Bancorp had a return on equity of 11.71% and a net margin of 24.91%. The firm had revenue of $30.05 million for the quarter, compared to analysts’ expectations of $30.03 million. As a group, analysts forecast that Sierra Bancorp will post 2.24 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSRR. Dimensional Fund Advisors LP grew its stake in shares of Sierra Bancorp by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,098,742 shares of the financial services provider’s stock worth $26,403,000 after acquiring an additional 23,842 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Sierra Bancorp by 508.9% in 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 during the last quarter. Rhumbline Advisers grew its stake in shares of Sierra Bancorp by 1.9% in the first quarter. Rhumbline Advisers now owns 20,307 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 388 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of Sierra Bancorp by 5.5% in the first quarter. Martingale Asset Management L P now owns 115,336 shares of the financial services provider’s stock worth $2,803,000 after acquiring an additional 6,002 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Sierra Bancorp by 72.3% in the first quarter. Acadian Asset Management LLC now owns 14,320 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 6,009 shares during the last quarter. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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