Sierra Bancorp (NASDAQ:BSRR) Rating Increased to Hold at Zacks Investment Research

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

Several other research firms have also recently issued reports on BSRR. BidaskClub upgraded Sierra Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered Sierra Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Sierra Bancorp currently has an average rating of “Hold” and an average price target of $29.50.

Shares of BSRR traded up $0.84 during mid-day trading on Wednesday, hitting $25.94. The company’s stock had a trading volume of 33,773 shares, compared to its average volume of 26,581. Sierra Bancorp has a one year low of $22.67 and a one year high of $31.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $383.76 million, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. The stock’s 50-day moving average is $25.74 and its two-hundred day moving average is $25.83.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. Sierra Bancorp had a return on equity of 11.71% and a net margin of 24.91%. The firm had revenue of $30.05 million during the quarter, compared to analyst estimates of $30.03 million. Analysts expect that Sierra Bancorp will post 2.24 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Sierra Bancorp by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,098,742 shares of the financial services provider’s stock valued at $26,403,000 after purchasing an additional 23,842 shares during the period. BlackRock Inc. lifted its position in shares of Sierra Bancorp by 4.5% during the 2nd quarter. BlackRock Inc. now owns 1,076,203 shares of the financial services provider’s stock valued at $29,185,000 after acquiring an additional 46,380 shares during the period. Vanguard Group Inc. lifted its position in shares of Sierra Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 582,935 shares of the financial services provider’s stock valued at $15,809,000 after acquiring an additional 5,672 shares during the period. Northern Trust Corp raised its holdings in shares of Sierra Bancorp by 1.3% during the 2nd quarter. Northern Trust Corp now owns 456,485 shares of the financial services provider’s stock worth $12,380,000 after buying an additional 5,825 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Sierra Bancorp by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 381,631 shares of the financial services provider’s stock worth $10,350,000 after buying an additional 2,500 shares in the last quarter. 53.18% of the stock is currently owned by hedge funds and other 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.

Featured Article: Discount Rate

Get a free copy of the Zacks research report on Sierra Bancorp (BSRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sierra Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.