Keefe, Bruyette & Woods Increases Sierra Bancorp (NASDAQ:BSRR) Price Target to $29.00

Sierra Bancorp (NASDAQ:BSRR) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $23.00 to $29.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 3.97% from the company’s current price.

Several other equities research analysts have also commented on the company. StockNews.com lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Janney Montgomery Scott lowered Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th.

Sierra Bancorp Stock Up 1.9 %

Sierra Bancorp stock opened at $30.20 on Tuesday. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $30.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $440.92 million, a PE ratio of 12.48 and a beta of 0.91. The stock’s fifty day moving average is $22.22 and its two-hundred day moving average is $20.56.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Sierra Bancorp had a return on equity of 10.82% and a net margin of 17.77%. The firm had revenue of $51.13 million for the quarter, compared to analyst estimates of $36.30 million. On average, sell-side analysts expect that Sierra Bancorp will post 2.45 EPS for the current fiscal year.

Insider Activity at Sierra Bancorp

In other news, EVP Michael Olague sold 4,753 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.29, for a total transaction of $105,944.37. Following the completion of the sale, the executive vice president now directly owns 31,353 shares in the company, valued at $698,858.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Sierra Bancorp

A number of hedge funds have recently made changes to their positions in BSRR. Foundry Partners LLC increased its stake in shares of Sierra Bancorp by 11.1% during the first quarter. Foundry Partners LLC now owns 150,415 shares of the financial services provider’s stock valued at $3,038,000 after acquiring an additional 15,080 shares during the period. Assenagon Asset Management S.A. grew its position in Sierra Bancorp by 27.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 67,149 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 14,320 shares during the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the fourth quarter worth approximately $280,000. BNP Paribas Financial Markets grew its position in Sierra Bancorp by 118.2% in the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock worth $343,000 after buying an additional 8,243 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Sierra Bancorp by 20.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock worth $984,000 after buying an additional 7,260 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

About Sierra Bancorp

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. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.