Sierra Bancorp (BSRR) Receives Average Recommendation of “Hold” from Brokerages
Sierra Bancorp (NASDAQ:BSRR) has been assigned a consensus rating of “Hold” from the six research firms that are covering the firm. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.25.
Separately, Zacks Investment Research raised Sierra Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 30th.
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In other Sierra Bancorp news, Director Robb Evans acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were acquired at an average price of $17.85 per share, with a total value of $35,700.00. Following the purchase, the director now owns 12,000 shares of the company’s stock, valued at approximately $214,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Smith Asset Management Group LP boosted its position in Sierra Bancorp by 1.9% in the third quarter. Smith Asset Management Group LP now owns 5,770 shares of the financial services provider’s stock worth $108,000 after buying an additional 110 shares during the period. Emerald Acquisition Ltd. purchased a new position in Sierra Bancorp during the second quarter worth about $160,000. The Manufacturers Life Insurance Company purchased a new position in Sierra Bancorp during the third quarter worth about $181,000. BlackRock Advisors LLC boosted its position in Sierra Bancorp by 3.1% in the second quarter. BlackRock Advisors LLC now owns 11,217 shares of the financial services provider’s stock worth $187,000 after buying an additional 336 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Sierra Bancorp by 476.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 13,102 shares of the financial services provider’s stock worth $219,000 after buying an additional 10,831 shares during the period. Hedge funds and other institutional investors own 49.82% of the company’s stock.
Shares of Sierra Bancorp (NASDAQ:BSRR) traded up 1.987% on Wednesday, reaching $22.845. The company’s stock had a trading volume of 35,369 shares. The company has a 50 day moving average price of $19.24 and a 200 day moving average price of $18.03. Sierra Bancorp has a 52-week low of $15.61 and a 52-week high of $23.03. The company has a market cap of $315.06 million, a P/E ratio of 17.709 and a beta of 0.71.
Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.04. Sierra Bancorp had a net margin of 20.59% and a return on equity of 8.80%. On average, analysts anticipate that Sierra Bancorp will post $1.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 3rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, November 1st. Sierra Bancorp’s payout ratio is presently 37.21%.
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. 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.
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