Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $31.00 target price on the financial services provider’s stock. Zacks Investment Research’s price target would indicate a potential upside of 15.71% from the stock’s previous close.
According to Zacks, “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. “
BSRR has been the subject of several other reports. Hovde Group downgraded Sierra Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the company from $20.50 to $23.50 in a research note on Monday, December 5th. Raymond James Financial, Inc. downgraded Sierra Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.13.
Sierra Bancorp (NASDAQ:BSRR) traded down 2.15% during mid-day trading on Monday, reaching $26.79. The company’s stock had a trading volume of 23,698 shares. Sierra Bancorp has a 52-week low of $15.60 and a 52-week high of $29.50. The firm has a 50 day moving average price of $27.72 and a 200 day moving average price of $23.04. The company has a market cap of $370.00 million, a price-to-earnings ratio of 20.77 and a beta of 0.83.
Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, January 23rd. The financial services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Sierra Bancorp had a return on equity of 8.77% and a net margin of 20.02%. Equities research analysts anticipate that Sierra Bancorp will post $1.47 earnings per share for the current year.
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In other news, Director Robb Evans bought 1,000 shares of Sierra Bancorp stock in a transaction dated Thursday, January 26th. The stock was bought at an average cost of $28.39 per share, for a total transaction of $28,390.00. Following the purchase, the director now directly owns 14,000 shares in the company, valued at approximately $397,460. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.24% of the company’s stock.
Several hedge funds have recently modified their holdings of BSRR. Prudential Financial Inc. increased its stake in shares of Sierra Bancorp by 8.3% in the third quarter. Prudential Financial Inc. now owns 40,644 shares of the financial services provider’s stock valued at $762,000 after buying an additional 3,100 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of Sierra Bancorp by 26.0% in the fourth quarter. Martingale Asset Management L P now owns 84,132 shares of the financial services provider’s stock valued at $2,238,000 after buying an additional 17,361 shares in the last quarter. Numeric Investors LLC increased its stake in shares of Sierra Bancorp by 0.8% in the fourth quarter. Numeric Investors LLC now owns 235,399 shares of the financial services provider’s stock valued at $6,259,000 after buying an additional 1,900 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Sierra Bancorp by 12.5% in the third quarter. California Public Employees Retirement System now owns 56,638 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 6,300 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Sierra Bancorp by 98.2% in the fourth quarter. Bessemer Group Inc. now owns 21,600 shares of the financial services provider’s stock valued at $574,000 after buying an additional 10,700 shares in the last quarter. Institutional investors own 48.32% of the company’s stock.
About Sierra Bancorp
Sierra Bancorp is a bank holding company 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 products and services 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.
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