Sierra Bancorp (NASDAQ:BSRR) Stock Rating Upgraded by 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 to investors 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. “

Other equities analysts have also recently issued reports about the company. ValuEngine cut Sierra Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BidaskClub upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Raymond James reduced their target price on Sierra Bancorp from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $29.00.

NASDAQ BSRR traded up $0.38 on Wednesday, reaching $26.54. The company had a trading volume of 54,948 shares, compared to its average volume of 27,605. The firm has a market capitalization of $407.07 million, a PE ratio of 13.82, a P/E/G ratio of 1.45 and a beta of 0.91. Sierra Bancorp has a 1 year low of $22.67 and a 1 year high of $28.92. The firm has a 50-day moving average of $25.64 and a 200-day moving average of $25.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83.

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

Several institutional investors have recently added to or reduced their stakes in BSRR. BNP Paribas Arbitrage SA boosted its stake in shares of Sierra Bancorp by 508.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,953 shares of the financial services provider’s stock valued at $72,000 after buying an additional 2,468 shares during the last quarter. Marshall Wace LLP bought a new position in Sierra Bancorp during the second quarter worth $253,000. Gradient Investments LLC bought a new position in Sierra Bancorp during the second quarter worth $271,000. Pacific Wealth Strategies Group Inc. lifted its stake in Sierra Bancorp by 14.2% during the second quarter. Pacific Wealth Strategies Group Inc. now owns 10,031 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Sierra Bancorp during the second quarter worth $338,000. Institutional investors own 53.82% 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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