Sierra Bancorp (NASDAQ:BSRR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “

Analyst Recommendations for Sierra Bancorp (NASDAQ:BSRR)

Shares of Sierra Bancorp (NASDAQ:BSRR) opened at 19.60 on Wednesday. The company has a 50 day moving average price of $18.37 and a 200 day moving average price of $17.70. Sierra Bancorp has a 1-year low of $15.61 and a 1-year high of $21.70. The company has a market capitalization of $270.26 million, a PE ratio of 15.19 and a beta of 0.71.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by $0.04. Sierra Bancorp had a net margin of 20.59% and a return on equity of 8.96%. Equities analysts predict that Sierra Bancorp will post $1.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, November 1st. Sierra Bancorp’s dividend payout ratio (DPR) is presently 37.21%.

In related news, Director Robb Evans acquired 2,000 shares of the company’s stock in a transaction on Friday, October 28th. The stock was acquired at an average price of $17.85 per share, with a total value of $35,700.00. Following the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at $214,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert L. Fields sold 35,000 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $18.22, for a total transaction of $637,700.00. Following the transaction, the director now directly owns 423,663 shares of the company’s stock, valued at approximately $7,719,139.86. The disclosure for this sale can be found here. Company insiders own 15.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Context BH Capital Management LP boosted its stake in shares of Sierra Bancorp by 80.4% in the third quarter. Context BH Capital Management LP now owns 51,484 shares of the financial services provider’s stock valued at $966,000 after buying an additional 22,953 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Sierra Bancorp by 16.5% in the third quarter. Acrospire Investment Management LLC now owns 11,793 shares of the financial services provider’s stock valued at $221,000 after buying an additional 1,669 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Sierra Bancorp by 1.7% in the third quarter. Northern Trust Corp now owns 416,253 shares of the financial services provider’s stock valued at $7,809,000 after buying an additional 7,047 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Sierra Bancorp by 0.8% in the third quarter. California State Teachers Retirement System now owns 24,672 shares of the financial services provider’s stock valued at $463,000 after buying an additional 200 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Sierra Bancorp by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 125,648 shares of the financial services provider’s stock valued at $2,358,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 49.62% of the company’s stock.

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. The Bank operates approximately 30 branch offices, an online branch, a real estate industries group, an agricultural credit division, a Small Business Administration (SBA) lending unit and a loan production office.

5 Day Chart for NASDAQ:BSRR

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