Sierra Bancorp (NASDAQ:BSRR) Cut to “Hold” at StockNews.com

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

BSRR has been the topic of several other research reports. Keefe, Bruyette & Woods increased their price target on Sierra Bancorp from $23.00 to $29.00 and gave the company a market perform rating in a report on Tuesday, July 23rd. Janney Montgomery Scott downgraded shares of Sierra Bancorp from a buy rating to a neutral rating in a report on Wednesday, May 15th.

Sierra Bancorp Stock Performance

BSRR stock remained flat at $27.03 during midday trading on Tuesday. 29,109 shares of the company’s stock were exchanged, compared to its average volume of 30,920. The company’s 50-day moving average price is $23.97 and its 200 day moving average price is $21.20. The stock has a market capitalization of $394.53 million, a P/E ratio of 11.17 and a beta of 0.91. Sierra Bancorp has a 12 month low of $16.75 and a 12 month high of $31.85. 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 (NASDAQ:BSRR) last announced its quarterly earnings data 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. Sierra Bancorp had a return on equity of 10.82% and a net margin of 17.77%. The business had revenue of $51.13 million during the quarter, compared to analyst estimates of $36.30 million. On average, sell-side analysts anticipate that Sierra Bancorp will post 2.76 earnings per share for the current year.

Sierra Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 31st. This is a positive change 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%. Sierra Bancorp’s payout ratio is 38.02%.

Insider Activity

In related news, EVP Michael Olague sold 14,088 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $30.95, for a total transaction of $436,023.60. Following the transaction, the executive vice president now owns 17,265 shares of the company’s stock, valued at $534,351.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Michael Olague sold 14,088 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $30.95, for a total transaction of $436,023.60. Following the transaction, the executive vice president now directly owns 17,265 shares in the company, valued at $534,351.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julie G. Castle sold 1,235 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $29.36, for a total value of $36,259.60. Following the completion of the sale, the director now owns 5,100 shares of the company’s stock, valued at approximately $149,736. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,268 shares of company stock valued at $1,284,343. 11.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Sierra Bancorp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock worth $22,474,000 after acquiring an additional 3,348 shares during the period. Vanguard Group Inc. lifted its stake in Sierra Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock worth $13,737,000 after purchasing an additional 5,830 shares during the period. Private Management Group Inc. boosted its holdings in Sierra Bancorp by 1.2% during the second quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock valued at $14,707,000 after purchasing an additional 7,515 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Sierra Bancorp by 11.1% in the 1st quarter. Foundry Partners LLC now owns 150,415 shares of the financial services provider’s stock valued at $3,038,000 after purchasing an additional 15,080 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Sierra Bancorp by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after buying an additional 3,531 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.