Sierra Bancorp (NASDAQ:BSRR) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Sierra Bancorp (NASDAQ:BSRR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods lifted their target price on Sierra Bancorp from $23.00 to $29.00 and gave the stock a market perform rating in a report on Tuesday, July 23rd. Janney Montgomery Scott lowered Sierra Bancorp from a buy rating to a neutral rating in a research report on Wednesday, May 15th.

Sierra Bancorp Price Performance

Sierra Bancorp stock remained flat at $27.03 during mid-day trading on Tuesday. 29,109 shares of the company were exchanged, compared to its average volume of 30,920. The firm has a market cap of $394.53 million, a P/E ratio of 11.17 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.74. Sierra Bancorp has a 52 week low of $16.75 and a 52 week high of $31.85. The company’s 50 day moving average price is $23.97 and its 200-day moving average price is $21.20.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $51.13 million for the quarter, compared to the consensus estimate of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.82%. On average, equities research analysts anticipate that Sierra Bancorp will post 2.76 earnings per share for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.24 dividend. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, July 31st. Sierra Bancorp’s dividend payout ratio (DPR) is 38.02%.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, Director Morris A. Tharp sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total value of $292,600.00. Following the transaction, the director now directly owns 475,060 shares in the company, valued at $13,900,255.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sierra Bancorp news, Director Morris A. Tharp sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total value of $292,600.00. Following the completion of the sale, the director now owns 475,060 shares in the company, valued at $13,900,255.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Olague sold 11,660 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.45, for a total value of $331,727.00. Following the completion of the transaction, the executive vice president now directly owns 25,132 shares in the company, valued at approximately $715,005.40. The disclosure for this sale can be found here. Insiders sold a total of 43,268 shares of company stock worth $1,284,343 in the last three months. 11.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings 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 buying an additional 957 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Sierra Bancorp during the first quarter valued at $94,000. Bfsg LLC purchased a new position in Sierra Bancorp during the fourth quarter valued at $122,000. SG Americas Securities LLC increased its holdings in Sierra Bancorp by 16.0% in the 4th quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Sierra Bancorp by 8.2% in the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after buying an additional 904 shares in the last quarter. 55.40% of the stock is currently 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.