Zacks Investment Research Downgrades Sierra Bancorp (NASDAQ:BSRR) to Hold

Zacks Investment Research cut shares of Sierra Bancorp (NASDAQ:BSRRGet Rating) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

A number of other equities research analysts also recently weighed in on BSRR. Janney Montgomery Scott downgraded shares of Sierra Bancorp from a buy rating to a neutral rating in a research note on Tuesday, January 25th. Raymond James decreased their price target on shares of Sierra Bancorp from $30.00 to $28.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, StockNews.com started coverage on shares of Sierra Bancorp in a research note on Thursday, March 31st. They set a buy rating on the stock.

Shares of Sierra Bancorp stock opened at $22.40 on Wednesday. The company’s fifty day simple moving average is $25.28 and its 200-day simple moving average is $26.04. The company has a market cap of $337.93 million, a price-to-earnings ratio of 8.00 and a beta of 1.10. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. Sierra Bancorp has a 1 year low of $22.27 and a 1 year high of $28.92.

Sierra Bancorp (NASDAQ:BSRRGet Rating) last posted its quarterly earnings results on Monday, April 25th. The financial services provider reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.11). Sierra Bancorp had a return on equity of 12.01% and a net margin of 30.47%. As a group, research analysts forecast that Sierra Bancorp will post 2.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Stockholders of record on Monday, May 2nd will be paid a $0.23 dividend. The ex-dividend date is Friday, April 29th. This represents a $0.92 annualized dividend and a dividend yield of 4.11%. Sierra Bancorp’s dividend payout ratio is presently 32.86%.

Several large investors have recently modified their holdings of BSRR. Citigroup Inc. boosted its stake in shares of Sierra Bancorp by 42.1% in the 3rd quarter. Citigroup Inc. now owns 1,630 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 483 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Sierra Bancorp by 98.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,625 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 1,802 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Sierra Bancorp by 40.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,681 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,068 shares in the last quarter. Barclays PLC boosted its stake in shares of Sierra Bancorp by 210.9% in the 3rd quarter. Barclays PLC now owns 5,739 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 3,893 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Sierra Bancorp in the fourth quarter valued at about $160,000. Institutional investors own 53.30% of the company’s stock.

Sierra Bancorp Company Profile (Get Rating)

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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

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