Sierra Bancorp (BSRR) Downgraded by Zacks Investment Research to Sell

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

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 research analysts have also recently issued reports about the stock. BidaskClub cut shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Hovde Group reaffirmed a “buy” rating on shares of Sierra Bancorp in a report on Monday, January 28th.

NASDAQ BSRR traded down $0.32 during trading hours on Tuesday, hitting $25.56. 12,583 shares of the stock were exchanged, compared to its average volume of 34,109. The stock has a market capitalization of $387.73 million, a P/E ratio of 13.31, a P/E/G ratio of 1.60 and a beta of 0.88. Sierra Bancorp has a 12-month low of $22.93 and a 12-month high of $31.18. 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 (NASDAQ:BSRR) last posted its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $29.32 million for the quarter, compared to analysts’ expectations of $29.53 million. Sierra Bancorp had a return on equity of 11.43% and a net margin of 24.09%. On average, equities research analysts expect that Sierra Bancorp will post 2.15 earnings per share for the current fiscal year.

In other Sierra Bancorp news, EVP Michael Olague purchased 15,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $26.89 per share, for a total transaction of $403,350.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robb Evans purchased 1,000 shares of the stock in a transaction dated Thursday, January 31st. The stock was acquired at an average price of $26.79 per share, for a total transaction of $26,790.00. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at $509,010. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 16,500 shares of company stock valued at $443,570. 10.21% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Sierra Bancorp by 14.0% in the fourth quarter. Geode Capital Management LLC now owns 151,762 shares of the financial services provider’s stock valued at $3,646,000 after purchasing an additional 18,593 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sierra Bancorp by 2.2% in the fourth 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 last quarter. FMR LLC grew its position in shares of Sierra Bancorp by 3.9% in the fourth quarter. FMR LLC now owns 280,709 shares of the financial services provider’s stock valued at $6,746,000 after purchasing an additional 10,615 shares during the last quarter. Penn Capital Management Co. Inc. grew its position 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 last quarter. Finally, Millennium Management LLC grew its position in shares of Sierra Bancorp by 63.8% in the fourth quarter. Millennium Management LLC now owns 68,799 shares of the financial services provider’s stock valued at $1,653,000 after purchasing an additional 26,790 shares during the last quarter. Institutional investors and hedge funds own 52.11% 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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