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

StockNews.com cut shares of Sierra Bancorp (NASDAQ:BSRR) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods decreased their price target on Sierra Bancorp from $24.00 to $23.00 and set a market perform rating for the company in a research report on Tuesday, April 23rd. Janney Montgomery Scott downgraded shares of Sierra Bancorp from a buy rating to a neutral rating in a research report on Wednesday, May 15th.

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock opened at $22.34 on Thursday. Sierra Bancorp has a 52 week low of $16.30 and a 52 week high of $23.21. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.25. The stock has a market cap of $326.16 million, a PE ratio of 9.23 and a beta of 0.91. The company’s 50-day moving average price is $21.22 and its two-hundred day moving average price is $20.34.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, April 22nd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $37.31 million for the quarter, compared to the consensus estimate of $34.90 million. Sierra Bancorp had a net margin of 17.80% and a return on equity of 10.89%. As a group, sell-side analysts anticipate that Sierra Bancorp will post 2.45 EPS for the current fiscal year.

Sierra Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.23 per share. The ex-dividend date was Monday, April 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.12%. Sierra Bancorp’s dividend payout ratio is 38.02%.

Insider Buying and Selling

In other Sierra Bancorp news, EVP Michael Olague sold 4,753 shares of Sierra Bancorp stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.29, for a total transaction of $105,944.37. Following the transaction, the executive vice president now owns 31,353 shares of the company’s stock, valued at approximately $698,858.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.63% of the company’s stock.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its position in Sierra Bancorp by 45.7% during the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 957 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Sierra Bancorp during the 1st quarter valued at about $94,000. Bfsg LLC bought a new stake in shares of Sierra Bancorp in the 4th quarter valued at approximately $122,000. SG Americas Securities LLC increased its holdings in Sierra Bancorp by 16.0% in the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after buying an additional 1,012 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Sierra Bancorp during the fourth quarter valued at approximately $280,000. 55.40% of the stock is owned by institutional investors and hedge funds.

About Sierra Bancorp

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.