Sierra Bancorp (NASDAQ:BSRR) Cut to “Sell” at Zacks Investment Research

Sierra Bancorp (NASDAQ:BSRR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, 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. “

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Sierra Bancorp has a consensus rating of “Hold” and a consensus price target of $30.33.

BSRR stock traded up $0.32 during trading on Friday, hitting $26.94. 17,000 shares of the company’s stock were exchanged, compared to its average volume of 26,033. The firm’s 50-day moving average price is $25.83. The firm has a market capitalization of $406.97 million, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.48 and a beta of 0.92. Sierra Bancorp has a 52-week low of $22.67 and a 52-week high of $31.18. 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 issued its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.06. Sierra Bancorp had a return on equity of 11.80% and a net margin of 24.90%. The company had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $29.50 million. On average, equities research analysts predict that Sierra Bancorp will post 2.25 EPS for the current year.

In related news, Director Robb Evans bought 1,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $26.63 per share, with a total value of $26,630.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $532,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Olague bought 7,106 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $27.41 per share, for a total transaction of $194,775.46. Following the acquisition, the executive vice president now owns 31,297 shares of the company’s stock, valued at approximately $857,850.77. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 22,106 shares of company stock valued at $604,025. 10.34% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings 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 valued at $493,000 after purchasing an additional 388 shares during the period. Citigroup Inc. increased its holdings in shares of Sierra Bancorp by 18.1% in the fourth quarter. Citigroup Inc. now owns 4,468 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 685 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Sierra Bancorp by 270.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,233 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Sierra Bancorp by 14.2% in the second quarter. Pacific Wealth Strategies Group Inc. now owns 10,031 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,250 shares during the period. Finally, Penn Capital Management Co. Inc. increased its holdings in shares of Sierra Bancorp by 5.7% in the fourth quarter. Penn Capital Management Co. Inc. now owns 38,103 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 2,044 shares during the period. 52.75% of the stock is currently owned by institutional investors and hedge funds.

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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