Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 issued reports about the stock. BidaskClub upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, September 8th. Hovde Group restated a “buy” rating and issued a $32.00 target price on shares of Sierra Bancorp in a report on Thursday, July 26th. Finally, Sandler O’Neill upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Sierra Bancorp presently has an average rating of “Hold” and an average price target of $31.25.
Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, October 22nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). The firm had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $28.75 million. Sierra Bancorp had a net margin of 21.44% and a return on equity of 11.09%. Analysts forecast that Sierra Bancorp will post 1.97 earnings per share for the current year.
In other news, EVP James F. Gardunio sold 2,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $30.22, for a total transaction of $60,440.00. Following the completion of the transaction, the executive vice president now owns 2,000 shares of the company’s stock, valued at approximately $60,440. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gordon T. Woods sold 2,500 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $29.55, for a total transaction of $73,875.00. Following the transaction, the director now directly owns 22,500 shares of the company’s stock, valued at approximately $664,875. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,301 shares of company stock valued at $275,320. Corporate insiders own 10.21% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BSRR. BlackRock Inc. increased its stake in shares of Sierra Bancorp by 10.2% during the 2nd quarter. BlackRock Inc. now owns 949,033 shares of the financial services provider’s stock valued at $26,801,000 after acquiring an additional 87,687 shares during the last quarter. Bowling Portfolio Management LLC acquired a new stake in Sierra Bancorp during the 2nd quarter worth approximately $1,626,000. Dimensional Fund Advisors LP increased its position in Sierra Bancorp by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,040,181 shares of the financial services provider’s stock worth $29,375,000 after purchasing an additional 37,646 shares in the last quarter. Renaissance Technologies LLC increased its position in Sierra Bancorp by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 315,900 shares of the financial services provider’s stock worth $8,921,000 after purchasing an additional 35,600 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Sierra Bancorp during the 2nd quarter worth approximately $481,000. 51.93% of the stock is owned by institutional investors.
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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