Sierra Bancorp (BSRR) Cut to “Sell” at BidaskClub

Sierra Bancorp (NASDAQ:BSRR) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also recently commented on BSRR. Zacks Investment Research cut shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Sandler O’Neill reaffirmed a “neutral” rating on shares of Sierra Bancorp in a report on Thursday, July 26th. Finally, Hovde Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Sierra Bancorp in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Shares of Sierra Bancorp stock opened at $28.97 on Thursday. The firm has a market capitalization of $454.23 million, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.87 and a beta of 0.69. Sierra Bancorp has a 12 month low of $24.32 and a 12 month high of $31.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $27.43 million. Sierra Bancorp had a net margin of 21.45% and a return on equity of 10.98%. equities research analysts expect that Sierra Bancorp will post 1.99 EPS for the current fiscal year.

In other Sierra Bancorp news, CEO Kevin J. Mcphaill sold 4,801 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $29.37, for a total value of $141,005.37. Following the transaction, the chief executive officer now directly owns 12,230 shares of the company’s stock, valued at approximately $359,195.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robb Evans acquired 1,000 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was purchased at an average cost of $29.98 per share, for a total transaction of $29,980.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at approximately $479,680. The disclosure for this purchase can be found here. Insiders sold a total of 9,301 shares of company stock worth $275,320 over the last three months. 10.21% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BSRR. Acadian Asset Management LLC increased its stake in Sierra Bancorp by 90.2% in the 2nd quarter. Acadian Asset Management LLC now owns 4,834 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,292 shares during the period. Citadel Advisors LLC acquired a new position in Sierra Bancorp in the 2nd quarter valued at $203,000. Mackay Shields LLC increased its stake in Sierra Bancorp by 24.4% in the 2nd quarter. Mackay Shields LLC now owns 11,231 shares of the financial services provider’s stock valued at $318,000 after buying an additional 2,200 shares during the period. New York State Common Retirement Fund increased its stake in Sierra Bancorp by 27.5% in the 1st quarter. New York State Common Retirement Fund now owns 15,300 shares of the financial services provider’s stock valued at $408,000 after buying an additional 3,300 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Sierra Bancorp in the 2nd quarter valued at $481,000. 51.91% of the stock is currently owned by 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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