Sierra Bancorp (BSRR) Formed Bullish Wedge Up Chart Pattern; Buyers Could Thrive

September 16, 2018 - By Eula Gilbert

Investors sentiment increased to 2 in Q2 2018. Its up 0.79, from 1.21 in 2018Q1. It is positive, 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.
Moreover, Dimensional Fund Advsrs Ltd Partnership has 0.01% invested in Sierra Bancorp (NASDAQ:BSRR) for 1.04 million shares. Bnp Paribas Arbitrage holds 433 shares. Piedmont Invest Advsrs Ltd Liability Corporation holds 0% or 245 shares in its portfolio. Federated Invsts Inc Pa holds 4,626 shares or 0% of its portfolio. Maltese Cap Mgmt Limited Liability holds 0.15% in Sierra Bancorp (NASDAQ:BSRR) or 78,160 shares. Strs Ohio invested in 26,500 shares or 0% of the stock. Alliancebernstein L P stated it has 0% of its portfolio in Sierra Bancorp (NASDAQ:BSRR). Jacobs Levy Equity Mgmt holds 0.01% in Sierra Bancorp (NASDAQ:BSRR) or 20,610 shares. Invesco Ltd invested in 0% or 17,595 shares. New York State Common Retirement Fund invested 0% in Sierra Bancorp (NASDAQ:BSRR). Macquarie Gru Ltd accumulated 7,635 shares or 0% of the stock. D E Shaw And has invested 0% in Sierra Bancorp (NASDAQ:BSRR). Bowling Mgmt Ltd Liability Co owns 0.23% invested in Sierra Bancorp (NASDAQ:BSRR) for 57,567 shares. Manufacturers Life Ins The reported 10,481 shares. Clarivest Asset Mgmt Lc owns 15,003 shares.

Since July 26, 2018, it had 1 insider buy, and 4 insider sales for $392,837 activity. The insider WOODS GORDON T sold 5,000 shares worth $147,500. EVANS ROBB also bought $29,978 worth of Sierra Bancorp (NASDAQ:BSRR) on Thursday, July 26. $141,016 worth of stock was sold by McPhaill Kevin J 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 EPS, up 24.39 % or $0.10 from last year’s $0.41 per share. BSRR’s profit will be $7.78M for 15.00 P/E if the $0.51 EPS becomes a reality. After $0.52 actual EPS 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 it with “Buy” rating and $3100 target in Tuesday, April 24 report. Sandler O’Neill maintained Sierra Bancorp (NASDAQ:BSRR) rating on Thursday, March 29. Sandler O’Neill has “Hold” rating and $2900 target. The firm has “Hold” rating given on Monday, April 23 by Sandler O’Neill.

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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