BidaskClub Lowers Sierra Bancorp (NASDAQ:BSRR) to Sell

BidaskClub downgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Farmland Partners from a hold rating to a sell rating in a report on Friday, July 12th. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $30.33.

Shares of BSRR stock opened at $25.84 on Friday. The firm has a 50 day moving average of $25.96. Sierra Bancorp has a one year low of $22.67 and a one year high of $31.18. The company has a market capitalization of $396.08 million, a PE ratio of 13.46, a PEG ratio of 1.44 and a beta of 0.92. 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 announced its earnings results on Monday, April 22nd. The financial services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $29.50 million. Sell-side analysts predict that Sierra Bancorp will post 2.25 earnings per share for the current year.

In other Sierra Bancorp news, Director Robb Evans purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $26.63 per share, for a total transaction of $26,630.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $532,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Olague purchased 7,106 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $27.41 per share, for a total transaction of $194,775.46. Following the completion of the acquisition, the executive vice president now directly owns 31,297 shares in the company, valued at approximately $857,850.77. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,106 shares of company stock worth $604,025 over the last 90 days. Company insiders own 10.34% of the company’s stock.

Several institutional investors have recently bought and sold shares of BSRR. Macquarie Group Ltd. boosted its holdings in shares of Sierra Bancorp by 270.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,233 shares of the financial services provider’s stock worth $30,000 after buying an additional 900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Sierra Bancorp by 508.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,953 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 2,468 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Sierra Bancorp by 18.1% in the 4th quarter. Citigroup Inc. now owns 4,468 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 685 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Sierra Bancorp by 413.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,635 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 3,733 shares in the last quarter. Finally, Gradient Investments LLC bought a new position in shares of Sierra Bancorp in the 2nd quarter worth $271,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

Sierra Bancorp Company Profile

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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