How Analysts Feel About Sierra Bancorp (BSRR) After Forming Wedge Up Chart Pattern?

September 16, 2018 - By Jimmy Baldridge

Investors sentiment increased to 2 in Q2 2018. Its up 0.79, from 1.21 in 2018Q1. It increased, as 2 investors sold Sierra Bancorp shares while 21 reduced holdings. 11 funds opened positions while 35 raised stakes. 7.58 million shares or 1.72% more from 7.46 million shares in 2018Q1 were reported.
Kennedy Capital Mngmt Inc reported 47,592 shares. Natl Bank Of Montreal Can holds 100 shares or 0% of its portfolio. Jacobs Levy Equity Management reported 0.01% in Sierra Bancorp (NASDAQ:BSRR). Ameriprise Fincl Inc holds 0% of its portfolio in Sierra Bancorp (NASDAQ:BSRR) for 137,250 shares. Bank Of America De stated it has 0% in Sierra Bancorp (NASDAQ:BSRR). Moreover, Los Angeles And Equity Rech has 0% invested in Sierra Bancorp (NASDAQ:BSRR) for 7,676 shares. Bnp Paribas Arbitrage Sa holds 0% in Sierra Bancorp (NASDAQ:BSRR) or 433 shares. Foundry Ptnrs Limited invested 0.2% in Sierra Bancorp (NASDAQ:BSRR). Morgan Stanley has 0% invested in Sierra Bancorp (NASDAQ:BSRR) for 171,216 shares. Bancorp Of Mellon Corporation, New York-based fund reported 97,317 shares. The Minnesota-based Us Bancshares De has invested 0% in Sierra Bancorp (NASDAQ:BSRR). Banc Funds Communication Ltd Liability holds 0.55% or 378,651 shares in its portfolio. 245 were reported by Piedmont Advsrs Limited Company. Renaissance Technologies Ltd Company, New York-based fund reported 280,300 shares. Amer Gp Inc invested in 9,188 shares or 0% of the stock.

Since July 26, 2018, it had 1 buying transaction, and 4 selling transactions for $392,837 activity. 1,000 Sierra Bancorp (NASDAQ:BSRR) shares with value of $29,978 were bought by EVANS ROBB. 2,500 shares were sold by WOODS GORDON T, worth $73,866. McPhaill Kevin J also sold $141,016 worth of Sierra Bancorp (NASDAQ:BSRR) on Wednesday, August 29.

The stock of Sierra Bancorp (BSRR) formed an up wedge with $31.83 target or 4.00 % above today’s $30.61 share price. The 7 months wedge indicates low risk for the $467.20M company. If the $31.83 price target is reached, the company will be worth $18.69 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.86% or $0.26 during the last trading session, reaching $30.61. About 142,707 shares traded or 250.30% up from the average. Sierra Bancorp (NASDAQ:BSRR) has risen 21.33% since September 16, 2017 and is uptrending. It has outperformed by 5.71% the S&P500.

Analysts await Sierra Bancorp (NASDAQ:BSRR) to report earnings on October, 22. They expect $0.51 earnings per share, up 24.39 % or $0.10 from last year’s $0.41 per share. BSRR’s profit will be $7.78 million for 15.00 P/E if the $0.51 EPS becomes a reality. After $0.52 actual earnings per share reported by Sierra Bancorp for the previous quarter, Wall Street now forecasts -1.92 % negative EPS growth.

Sierra Bancorp (NASDAQ:BSRR) Ratings Coverage

Among 2 analysts covering Sierra Bancorp (NASDAQ:BSRR), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Sierra Bancorp had 3 analyst reports since March 29, 2018 according to SRatingsIntel. Hovde Group maintained Sierra Bancorp (NASDAQ:BSRR) on Tuesday, April 24 with “Buy” rating. The firm earned “Hold” rating on Thursday, March 29 by Sandler O’Neill. The rating was maintained by Sandler O’Neill on Monday, April 23 with “Hold”.

Sierra Bancorp operates as the bank holding firm for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. The company has market cap of $467.20 million. The firm accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts. It has a 18.92 P/E ratio. The Company’s loan products include real estate loans secured by commercial, professional office, and agricultural properties; construction loans for residential and commercial development; permanent mortgage loans, land acquisition and development loans, and multifamily credit facilities; secondary market services for residential mortgage loans; agricultural production loans; commercial and industrial loans and leases, including SBA loans and direct finance leases; mortgage warehouse loans; and consumer loans.

Sierra Bancorp (NASDAQ:BSRR) Institutional Positions Chart

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