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

Posted by on Aug 3rd, 2022

StockNews.com upgraded shares of Sierra Bancorp (NASDAQ:BSRR – Get Rating) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other brokerages also recently weighed in on BSRR. Piper Sandler reduced their target price on shares of Sierra Bancorp to $23.50 in a research note on Monday, July 4th. Raymond James cut shares of Sierra Bancorp from an outperform rating to a market perform rating in a report on Thursday, July 7th.

Sierra Bancorp Stock Performance

BSRR opened at $21.79 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.26. The company has a market cap of $328.81 million, a price-to-earnings ratio of 9.00 and a beta of 1.01. The company’s 50 day moving average is $21.70 and its 200 day moving average is $23.83. Sierra Bancorp has a 12-month low of $20.77 and a 12-month high of $28.92.

Sierra Bancorp (NASDAQ:BSRR – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Sierra Bancorp had a net margin of 26.13% and a return on equity of 10.50%. On average, equities research analysts predict that Sierra Bancorp will post 2.45 EPS for the current year.

Sierra Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.22%. Sierra Bancorp’s payout ratio is 38.02%.

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors have recently added to or reduced their stakes in BSRR. Walthausen & Co. LLC boosted its stake in Sierra Bancorp by 0.7% during the 1st quarter. Walthausen & Co. LLC now owns 75,746 shares of the financial services provider’s stock worth $1,892,000 after purchasing an additional 520 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sierra Bancorp by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 37,437 shares of the financial services provider’s stock valued at $936,000 after buying an additional 1,099 shares during the period. BHZ Capital Management LP raised its holdings in Sierra Bancorp by 1.0% in the 1st quarter. BHZ Capital Management LP now owns 116,794 shares of the financial services provider’s stock valued at $2,918,000 after buying an additional 1,200 shares during the period. Strs Ohio raised its holdings in Sierra Bancorp by 5.9% in the 2nd quarter. Strs Ohio now owns 21,400 shares of the financial services provider’s stock valued at $465,000 after buying an additional 1,200 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Sierra Bancorp by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 114,779 shares of the financial services provider’s stock worth $2,868,000 after purchasing an additional 1,248 shares during the period. Institutional investors and hedge funds own 55.09% of the company’s stock.

About Sierra Bancorp

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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.

Further Reading

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