FIG Partners Comments on Sierra Bancorp’s FY2017 Earnings (BSRR)
Sierra Bancorp (NASDAQ:BSRR) – Research analysts at FIG Partners issued their FY2017 earnings per share (EPS) estimates for shares of Sierra Bancorp in a note issued to investors on Thursday. FIG Partners analyst T. Coffey forecasts that the financial services provider will post earnings per share of $1.52 for the year. FIG Partners has a “Market-Perform” rating and a $30.00 price objective on the stock. FIG Partners also issued estimates for Sierra Bancorp’s Q4 2017 earnings at $0.43 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.79 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.57 EPS and FY2019 earnings at $2.21 EPS.
A number of other research firms have also recently issued reports on BSRR. Zacks Investment Research cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. DA Davidson cut shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. ValuEngine cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Finally, BidaskClub cut shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $28.46.
Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.87%. The company had revenue of $24.35 million during the quarter, compared to analyst estimates of $23.90 million.
In related news, Director Robb Evans acquired 1,000 shares of Sierra Bancorp stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the acquisition, the director now owns 16,000 shares in the company, valued at $416,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gordon T. Woods sold 3,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $28.50, for a total transaction of $85,500.00. The disclosure for this sale can be found here. 20.77% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BSRR. Vanguard Group Inc. increased its stake in Sierra Bancorp by 22.4% during the first quarter. Vanguard Group Inc. now owns 455,718 shares of the financial services provider’s stock worth $12,500,000 after purchasing an additional 83,492 shares during the period. Brown Advisory Inc. purchased a new stake in Sierra Bancorp during the third quarter worth about $1,060,000. Dimensional Fund Advisors LP increased its stake in Sierra Bancorp by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 938,622 shares of the financial services provider’s stock worth $25,484,000 after purchasing an additional 32,745 shares during the period. Macquarie Group Ltd. purchased a new stake in Sierra Bancorp during the third quarter worth about $658,000. Finally, Northern Trust Corp increased its stake in Sierra Bancorp by 4.3% during the second quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock worth $10,763,000 after purchasing an additional 18,165 shares during the period. Hedge funds and other institutional investors own 49.24% of the company’s stock.
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About Sierra Bancorp
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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