Sierra Bancorp (NASDAQ:BSRR) Price Target Lowered to $23.00 at Keefe, Bruyette & Woods

Sierra Bancorp (NASDAQ:BSRR) had its price target lowered by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research note released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Janney Montgomery Scott upgraded Sierra Bancorp from a neutral rating to a buy rating and decreased their price target for the company from $24.00 to $23.00 in a research note on Tuesday.

Sierra Bancorp Trading Up 0.4 %

Sierra Bancorp stock opened at $20.50 on Tuesday. The stock has a 50-day moving average of $18.79 and a two-hundred day moving average of $19.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Sierra Bancorp has a one year low of $15.01 and a one year high of $23.21. The stock has a market cap of $300.33 million, a PE ratio of 8.44 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Sierra Bancorp had a net margin of 17.80% and a return on equity of 11.11%. The business had revenue of $50.49 million during the quarter, compared to analysts’ expectations of $35.15 million. On average, research analysts anticipate that Sierra Bancorp will post 2.45 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Monday, April 29th. Sierra Bancorp’s dividend payout ratio is presently 38.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in Sierra Bancorp during the third quarter worth about $689,000. Assenagon Asset Management S.A. grew its holdings in Sierra Bancorp by 27.1% during 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 acquiring an additional 14,320 shares during the period. SG Americas Securities LLC grew its holdings in Sierra Bancorp by 16.0% during the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 1,012 shares during the period. Private Management Group Inc. grew its holdings in Sierra Bancorp by 4.0% during the third quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after acquiring an additional 25,256 shares during the period. Finally, Bfsg LLC acquired a new stake in Sierra Bancorp during the fourth quarter worth about $122,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Sierra Bancorp Company Profile

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.