Sierra Bancorp (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 Thursday morning, BidAskClub reports.

BSRR has been the topic of a number of other reports. ValuEngine lowered Sierra Bancorp from a hold rating to a sell rating in a research report on Wednesday, March 20th. Zacks Investment Research lowered Sierra Bancorp from a hold rating to a sell rating in a research report on Monday, December 31st. Finally, Hovde Group reaffirmed a buy rating on shares of Sierra Bancorp in a research report on Monday, January 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $30.33.

Shares of NASDAQ BSRR opened at $26.24 on Thursday. Sierra Bancorp has a 1 year low of $22.67 and a 1 year high of $31.18. The stock has a market cap of $402.21 million, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, April 22nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. Sierra Bancorp had a return on equity of 12.00% and a net margin of 24.90%. The business had revenue of $29.88 million for the quarter, compared to analyst estimates of $29.50 million. Equities research analysts anticipate that Sierra Bancorp will post 2.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, May 1st. Sierra Bancorp’s dividend payout ratio is currently 37.50%.

In related news, CEO Kevin J. Mcphaill sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $27.27, for a total value of $409,050.00. Following the completion of the sale, the chief executive officer now directly owns 23,076 shares of the company’s stock, valued at $629,282.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robb Evans acquired 1,000 shares of the stock in a transaction that occurred on Thursday, January 31st. The stock was purchased at an average cost of $26.79 per share, with a total value of $26,790.00. Following the completion of the acquisition, the director now owns 19,000 shares of the company’s stock, valued at $509,010. The disclosure for this purchase can be found here. 10.21% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its holdings in 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 valued at $72,000 after buying an additional 2,468 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Sierra Bancorp by 13.6% during the first quarter. Foundry Partners LLC now owns 204,355 shares of the financial services provider’s stock valued at $4,966,000 after purchasing an additional 24,525 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sierra Bancorp by 14.0% during the fourth quarter. Geode Capital Management LLC now owns 151,762 shares of the financial services provider’s stock valued at $3,646,000 after purchasing an additional 18,593 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sierra Bancorp by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,098,742 shares of the financial services provider’s stock valued at $26,403,000 after purchasing an additional 23,842 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Sierra Bancorp by 3.9% during the fourth quarter. FMR LLC now owns 280,709 shares of the financial services provider’s stock valued at $6,746,000 after purchasing an additional 10,615 shares during the last quarter. 52.61% of the stock is 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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