Sierra Bancorp (NASDAQ:BSRR) Rating Lowered to “Hold” at StockNews.com

Sierra Bancorp (NASDAQ:BSRR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Separately, Keefe, Bruyette & Woods increased their price target on Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd.

Sierra Bancorp Trading Up 1.8 %

Shares of NASDAQ BSRR opened at $32.36 on Friday. The stock’s 50 day moving average price is $29.10 and its two-hundred day moving average price is $25.72. Sierra Bancorp has a 52-week low of $17.53 and a 52-week high of $35.13. The stock has a market capitalization of $459.19 million, a P/E ratio of 12.84 and a beta of 0.89. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.24.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.59% and a net margin of 17.91%. The firm had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $38.30 million. On average, analysts anticipate that Sierra Bancorp will post 2.79 earnings per share for the current fiscal year.

Insider Transactions at Sierra Bancorp

In related news, Director James C. Holly sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.98, for a total value of $144,900.00. Following the sale, the director now directly owns 313,370 shares in the company, valued at $9,081,462.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Olague sold 3,098 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.70, for a total value of $85,814.60. Following the sale, the executive vice president now directly owns 12,409 shares in the company, valued at $343,729.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Holly sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.98, for a total value of $144,900.00. Following the completion of the sale, the director now owns 313,370 shares in the company, valued at approximately $9,081,462.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,614 shares of company stock worth $248,666. 11.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in Sierra Bancorp during the 3rd quarter valued at $29,000. Lazard Asset Management LLC boosted its stake in Sierra Bancorp by 45.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 957 shares in the last quarter. Acadian Asset Management LLC bought a new position in Sierra Bancorp during the 1st quarter valued at $94,000. SG Americas Securities LLC bought a new position in Sierra Bancorp during the 3rd quarter valued at $142,000. Finally, Panagora Asset Management Inc. boosted its stake in Sierra Bancorp by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 904 shares in the last quarter. 55.40% 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. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.