Hovde Group Initiates Coverage on Sierra Bancorp to Outperform

Hovde Group Initiates Coverage on Sierra Bancorp(NASDAQ:BSRR). The shares have been rated Outperform. The rating by Hovde Group was issued on Jun 10, 2016.

In a different note, DA Davidson said it Initiates Coverage on Sierra Bancorp, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Neutral’ by the firm.

Sierra Bancorp (BSRR) shares turned negative on Wednesdays trading session with the shares closing down -0.4 points or -2.29% at a volume of 13,740. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.47. The peak price level was also seen at $17.47 while the days lowest was $16.89. Finally the shares closed at $17.08. The 52-week high of the shares is $21.7 while the 52-week low is $15.5. According to the latest information available, the market cap of the company is $227 M.

Sierra Bancorp(BSRR) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $19.61M. Analysts had an estimated revenue of $20.18M. Earnings per share were $0.30. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Gordon T Woods (director) sold 5,000 shares at $17.16 per share price.Also, On Apr 5, 2016, Michael Olague (EVP/Chief Banking Officer) sold 3,692 shares at $17.36 per share price.

Sierra Bancorp is a bank holding company. The Company operates through its principal subsidiary Bank of the Sierra (the Bank). The Bank is a state-chartered bank that offers a range of retail and commercial banking services to communities in the central and southern sections of the San Joaquin Valley. The Bank operates 28 full service branch offices throughout its geographic footprint as well as an Internet branch which provides the ability to open deposit accounts online. The Bank maintains a diversified loan portfolio consisting of agricultural commercial consumer real estate construction and mortgage loans. It offer a range of deposit products for individuals and businesses including checking accounts savings accounts money market demand accounts time deposits retirement accounts and sweep accounts. The Company’s direct subsidiaries are Sierra Statutory Trust II and Sierra Capital Trust III.

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