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

StockNews.com cut shares of Sierra Bancorp (NASDAQ:BSRRGet Rating) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other research analysts also recently weighed in on the company. Janney Montgomery Scott downgraded Sierra Bancorp from a buy rating to a neutral rating in a report on Tuesday, January 25th. Zacks Investment Research lowered shares of Sierra Bancorp from a buy rating to a hold rating in a research report on Wednesday. Finally, Raymond James dropped their price objective on shares of Sierra Bancorp from $30.00 to $28.00 and set an outperform rating on the stock in a report on Tuesday.

BSRR opened at $22.64 on Thursday. The stock has a market capitalization of $341.55 million, a price-to-earnings ratio of 8.09 and a beta of 1.10. The firm has a 50 day moving average price of $25.20 and a 200-day moving average price of $26.03. Sierra Bancorp has a twelve month low of $22.26 and a twelve month high of $28.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.23.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Investors of record on Monday, May 2nd will be issued a $0.23 dividend. The ex-dividend date is Friday, April 29th. This represents a $0.92 dividend on an annualized basis and a yield of 4.06%. Sierra Bancorp’s dividend payout ratio is currently 32.86%.

A number of large investors have recently added to or reduced their stakes in BSRR. Citigroup Inc. increased its position in Sierra Bancorp by 42.1% in the third quarter. Citigroup Inc. now owns 1,630 shares of the financial services provider’s stock worth $40,000 after buying an additional 483 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Sierra Bancorp by 98.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,625 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 1,802 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Sierra Bancorp by 40.9% during 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 acquiring an additional 1,068 shares during the period. Barclays PLC increased its holdings in Sierra Bancorp by 210.9% in the 3rd quarter. Barclays PLC now owns 5,739 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 3,893 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Sierra Bancorp during the 4th quarter worth approximately $160,000. 53.30% of the stock is owned by institutional investors and hedge funds.

About Sierra Bancorp (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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