Sierra Bancorp (NASDAQ:BSRR) Upgraded to “Buy” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Sierra Bancorp (NASDAQ:BSRR – Free Report) from a hold rating to a buy rating in a research report report published on Thursday morning.

Sierra Bancorp Stock Up 0.8 %

Sierra Bancorp stock opened at $26.66 on Thursday. Sierra Bancorp has a 12 month low of $19.77 and a 12 month high of $35.13. The stock has a fifty day simple moving average of $27.83 and a two-hundred day simple moving average of $29.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The firm has a market cap of $368.71 million, a price-to-earnings ratio of 9.49 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR – Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. Equities analysts predict that Sierra Bancorp will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Olague sold 3,563 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $31.15, for a total transaction of $110,987.45. Following the completion of the sale, the executive vice president now owns 12,409 shares in the company, valued at approximately $386,540.35. This represents a 22.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie G. Castle sold 1,104 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now directly owns 4,157 shares in the company, valued at approximately $133,024. This represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,393 shares of company stock worth $166,994. 11.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Sierra Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in BSRR. State of Tennessee Department of Treasury purchased a new position in shares of Sierra Bancorp in the fourth quarter worth approximately $137,000. SG Americas Securities LLC raised its position in Sierra Bancorp by 20.3% in the fourth quarter. SG Americas Securities LLC now owns 5,903 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 997 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of Sierra Bancorp during the 4th quarter worth $202,000. Franklin Resources Inc. bought a new stake in shares of Sierra Bancorp during the 3rd quarter valued at $216,000. Finally, MetLife Investment Management LLC increased its stake in shares of Sierra Bancorp by 11.3% in the 4th quarter. MetLife Investment Management LLC now owns 8,249 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

(Get Free Report)

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.

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