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

Several other equities research analysts have also recently issued reports on BSRR. DA Davidson upgraded shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, May 23rd. ValuEngine upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.00 price objective on shares of Sierra Bancorp in a research report on Friday, July 14th. Raymond James Financial, Inc. upgraded shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 25th. Finally, BidaskClub cut shares of Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.95.

Shares of Sierra Bancorp (BSRR) traded up 0.85% during trading on Wednesday, hitting $24.97. 11,185 shares of the stock were exchanged. Sierra Bancorp has a 52-week low of $17.25 and a 52-week high of $29.50. The firm has a 50 day moving average of $25.73 and a 200-day moving average of $25.86. The stock has a market cap of $345.53 million, a PE ratio of 18.11 and a beta of 0.88.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. Sierra Bancorp had a net margin of 22.42% and a return on equity of 9.78%. Equities research analysts anticipate that Sierra Bancorp will post $1.52 earnings per share for the current fiscal year.

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In related news, Director Robert L. Fields sold 9,600 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the sale, the director now owns 412,543 shares in the company, valued at $11,196,417.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Fields sold 2,465 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total transaction of $66,875.45. Following the completion of the sale, the director now owns 410,078 shares in the company, valued at approximately $11,125,416.14. The disclosure for this sale can be found here. Insiders sold 12,165 shares of company stock worth $330,119 in the last 90 days. 15.24% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position 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 worth $205,000 after purchasing an additional 196 shares during the last quarter. American International Group Inc. increased its position 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 worth $197,000 after purchasing an additional 478 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position 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 worth $177,000 after purchasing an additional 800 shares during the last quarter. Teachers Advisors LLC increased its position in Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Strs Ohio increased its position in Sierra Bancorp by 6.2% in the second quarter. Strs Ohio now owns 25,800 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 1,500 shares during the last quarter. 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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