Sierra Bancorp (NASDAQ:BSRR) Rating Increased to Hold at BidaskClub

Sierra Bancorp (NASDAQ:BSRR) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, BidAskClub reports.

BSRR has been the subject of several other reports. ValuEngine downgraded shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a research report 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, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.50.

NASDAQ BSRR opened at $25.35 on Wednesday. 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 has a 1-year low of $22.67 and a 1-year high of $31.18. The company has a 50 day moving average of $25.69 and a 200-day moving average of $25.81. The company has a market cap of $384.99 million, a price-to-earnings ratio of 13.20, a PEG ratio of 1.40 and a beta of 0.92.

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

A number of institutional investors and hedge funds have recently made changes to their positions in BSRR. BNP Paribas Arbitrage SA raised its position 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. Marshall Wace LLP acquired a new position in shares of Sierra Bancorp during the second quarter worth $253,000. Gradient Investments LLC acquired a new position in shares of Sierra Bancorp during the second quarter worth $271,000. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Sierra Bancorp by 14.2% during the second quarter. Pacific Wealth Strategies Group Inc. now owns 10,031 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,250 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Sierra Bancorp during the second quarter worth $338,000. Institutional investors and hedge funds own 53.18% of the company’s stock.

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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