Sierra Bancorp (BSRR) Raised 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 report issued to clients and investors on Wednesday.
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 equities research analysts have also commented on BSRR. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.00 price target on shares of Sierra Bancorp in a research note on Friday, July 14th. BidaskClub upgraded shares of Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Raymond James Financial, Inc. upgraded shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Tuesday, July 25th. Finally, Hovde Group lifted their price target on shares of Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.15.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.97%. The firm had revenue of $24.35 million for the quarter, compared to analyst estimates of $23.90 million.
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In other Sierra Bancorp news, Director Robb Evans acquired 1,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were bought at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the completion of the purchase, the director now owns 16,000 shares in the company, valued at approximately $416,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BSRR. Tower Research Capital LLC TRC acquired a new position in Sierra Bancorp in the second quarter valued at $118,000. Cornerstone Capital Management Holdings LLC. increased its stake in Sierra Bancorp by 12.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 800 shares during the period. American International Group Inc. increased its stake in Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 478 shares during the period. Trexquant Investment LP acquired a new position in Sierra Bancorp in the second quarter valued at $204,000. Finally, Wells Fargo & Company MN increased its stake in Sierra Bancorp by 2.4% in the second quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 196 shares during the period. Institutional investors own 53.13% of the company’s stock.
Sierra Bancorp Company Profile
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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