Zacks Investment Research Lowers Sierra Bancorp (BSRR) to Sell

Zacks Investment Research downgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a hold rating to a sell rating in a research note published on Tuesday morning.

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. “

A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Sierra Bancorp from a sell rating to a strong sell rating in a report on Saturday, March 9th. Hovde Group reaffirmed a buy rating on shares of Sierra Bancorp in a report on Monday, January 28th.

Shares of BSRR opened at $25.50 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13. Sierra Bancorp has a 1 year low of $22.93 and a 1 year high of $31.18. The company has a market cap of $390.64 million, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.49 and a beta of 0.88.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Sierra Bancorp had a net margin of 24.09% and a return on equity of 11.43%. The company had revenue of $29.32 million for the quarter, compared to analysts’ expectations of $29.53 million. Analysts forecast that Sierra Bancorp will post 2.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st were given a dividend of $0.18 per share. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Wednesday, January 30th. Sierra Bancorp’s dividend payout ratio is currently 37.50%.

In other news, CEO Kevin J. Mcphaill sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $27.27, for a total transaction of $409,050.00. Following the completion of the transaction, the chief executive officer now directly owns 23,076 shares in the company, valued at approximately $629,282.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robb Evans bought 1,000 shares of the stock in a transaction dated Thursday, January 31st. The shares were purchased at an average price of $26.79 per share, with a total value of $26,790.00. Following the completion of the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $509,010. The disclosure for this purchase can be found here. Insiders have bought a total of 16,500 shares of company stock valued at $443,570 over the last quarter. Corporate insiders own 10.21% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in Sierra Bancorp by 75.6% in the third quarter. FMR LLC now owns 270,094 shares of the financial services provider’s stock worth $7,805,000 after buying an additional 116,309 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Sierra Bancorp by 46.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,800 shares of the financial services provider’s stock worth $2,206,000 after buying an additional 28,925 shares during the last quarter. BlackRock Inc. lifted its position in Sierra Bancorp by 7.4% in the third quarter. BlackRock Inc. now owns 1,019,291 shares of the financial services provider’s stock worth $29,458,000 after buying an additional 70,258 shares during the last quarter. Algert Global LLC bought a new stake in Sierra Bancorp in the fourth quarter worth $307,000. Finally, Renaissance Technologies LLC lifted its position in Sierra Bancorp by 10.4% in the third quarter. Renaissance Technologies LLC now owns 348,655 shares of the financial services provider’s stock worth $10,076,000 after buying an additional 32,755 shares during the last quarter. Hedge funds and other institutional investors own 52.75% 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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