Market Runner: Sierra Bancorp on Focus After Trading At 52-Week Highs

Market Runner: Sierra Bancorp on Focus After Trading At 52 Week Highs

The stock of Sierra Bancorp (NASDAQ:BSRR) hit a new 52-week high and has $24.08 target or 4.00% above today’s $23.15 share price. The 8 months bullish chart indicates low risk for the $325.68M company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $24.08 price target is reached, the company will be worth $13.03 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 12,394 shares traded hands. Sierra Bancorp (NASDAQ:BSRR) has risen 29.54% since April 28, 2016 and is uptrending. It has outperformed by 23.61% the S&P500.

Analysts await Sierra Bancorp (NASDAQ:BSRR) to report earnings on January, 23. They expect $0.35 earnings per share, down 12.50% or $0.05 from last year’s $0.4 per share. BSRR’s profit will be $4.92 million for 16.54 P/E if the $0.35 EPS becomes a reality. After $0.28 actual earnings per share reported by Sierra Bancorp for the previous quarter, Wall Street now forecasts 25.00% EPS growth.

Sierra Bancorp (NASDAQ:BSRR) Ratings Coverage

Out of 7 analysts covering Sierra Bancorp (NASDAQ:BSRR), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. Sierra Bancorp has been the topic of 9 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating by Raymond James given on Thursday, December 17. Zacks upgraded Sierra Bancorp (NASDAQ:BSRR) on Monday, September 21 to “Buy” rating. The rating was initiated by Hovde Group on Friday, June 10 with “Outperform”. Keefe Bruyette & Woods maintained Sierra Bancorp (NASDAQ:BSRR) on Wednesday, January 6 with “Market Perform” rating. The stock of Sierra Bancorp (NASDAQ:BSRR) earned “Outperform” rating by Raymond James on Thursday, January 7. The firm earned “Neutral” rating on Thursday, June 9 by DA Davidson.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.42 in 2016 Q2. Its down 0.46, from 1.88 in 2016Q1. The ratio turned negative, as 8 funds sold all Sierra Bancorp shares owned while 17 reduced positions. 11 funds bought stakes while 36 increased positions. They now own 6.78 million shares or 1.12% more from 6.70 million shares in 2016Q1.
Nationwide Fund Advsr holds 0% or 64,289 shares in its portfolio. Bnp Paribas Arbitrage Sa accumulated 0% or 456 shares. California Pub Employees Retirement has 50,338 shares for 0% of their US portfolio. North Star Management holds 0% or 140 shares in its portfolio. California State Teachers Retirement owns 24,472 shares or 0% of their US portfolio. Geode Cap Management Llc accumulated 70,114 shares or 0% of the stock. Ny State Common Retirement Fund owns 10,800 shares or 0% of their US portfolio. Teachers Advsr accumulated 0% or 18,124 shares. Bancorp Of New York Mellon Corporation reported 79,077 shares or 0% of all its holdings. Whittier Company accumulated 0% or 1,159 shares. Blackrock Advsr Limited Liability Company holds 0% or 11,217 shares in its portfolio. Maltese Mgmt Lc, a New York-based fund reported 264,000 shares. State Street holds 0% of its portfolio in Sierra Bancorp (NASDAQ:BSRR) for 191,598 shares. Moreover, Numeric Invsts Lc has 0.04% invested in Sierra Bancorp (NASDAQ:BSRR) for 268,882 shares. The Pennsylvania-based Federated Pa has invested 0% in Sierra Bancorp (NASDAQ:BSRR).

Insider Transactions: Since August 31, 2016, the stock had 1 buying transaction, and 1 sale for $602,000 net activity. EVANS ROBB bought $35,700 worth of stock or 2,000 shares. On Wednesday, August 31 the insider FIELDS ROBERT L sold $637,700.

More news for Sierra Bancorp (NASDAQ:BSRR) were recently published by: Prnewswire.com, which released: “Sierra Bancorp Completes Acquisition of Coast Bancorp of San Luis Obispo County” on July 09, 2016. Prnewswire.com‘s article titled: “Sierra Bancorp Announces Agreement to Acquire Coast Bancorp of San Luis Obispo …” and published on January 05, 2016 is yet another important article.

BSRR Company Profile

Sierra Bancorp, incorporated on November 16, 2000, is a bank holding firm for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s services and products are related to the business of lending money and accepting deposits. The Bank operates approximately 30 branch offices, an online branch, a real estate industries group, an agricultural credit division, a Small Business Administration (SBA) lending unit and a loan production office. The Company’s clients have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network. The Company’s Internet branch provides the ability to open deposit accounts online; an online banking option with bill-pay and mobile banking capabilities, including mobile check deposit; a customer service center that is accessible by toll-free telephone during business hours, and an automated telephone banking system. It offers a range of other banking services and products to complement and support its lending and deposit products, including remote deposit capture and automated payroll services for business customers. The Company’s other direct subsidiaries are Sierra Statutory Trust II and Sierra Capital Trust III, which are engaged in facilitating the issuance of capital trust pass-through securities.

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