Sierra Bancorp (NASDAQ:BSRR) Price Target Raised to $44.00

Sierra Bancorp (NASDAQ:BSRR) had its price target raised by Keefe, Bruyette & Woods from $42.00 to $44.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods‘s price objective points to a potential upside of 3.14% from the company’s current price.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of Sierra Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. DA Davidson boosted their target price on shares of Sierra Bancorp from $47.00 to $48.50 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Piper Sandler lowered their target price on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Zacks Research raised shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Sierra Bancorp in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.83.

Sierra Bancorp Price Performance

Shares of BSRR opened at $42.66 on Tuesday. The business’s fifty day moving average is $40.20 and its 200 day moving average is $38.27. Sierra Bancorp has a 12-month low of $27.93 and a 12-month high of $44.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $553.00 million, a P/E ratio of 10.99 and a beta of 0.75.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.27. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. The business had revenue of $40.08 million during the quarter, compared to analyst estimates of $39.23 million. Sell-side analysts anticipate that Sierra Bancorp will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, CFO Christopher G. Treece sold 4,000 shares of Sierra Bancorp stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.51, for a total transaction of $170,040.00. Following the transaction, the chief financial officer directly owned 35,095 shares of the company’s stock, valued at $1,491,888.45. The trade was a 10.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.34, for a total transaction of $247,689.00. Following the transaction, the director directly owned 24,283 shares in the company, valued at $1,028,142.22. This represents a 19.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,850 shares of company stock valued at $589,129. 11.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BSRR. BlackRock Inc. bought a new stake in Sierra Bancorp in the 2nd quarter worth about $53,249,000. Jupiter Topco LLC bought a new position in shares of Sierra Bancorp during the 2nd quarter worth approximately $17,865,000. The Manufacturers Life Insurance Company bought a new position in shares of Sierra Bancorp during the 2nd quarter worth approximately $14,576,000. Janus Henderson Group PLC boosted its stake in shares of Sierra Bancorp by 32.9% in the 1st quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider’s stock worth $11,673,000 after buying an additional 85,098 shares during the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new position in shares of Sierra Bancorp in the 2nd quarter worth approximately $7,503,000. 55.40% of the stock is owned by institutional investors.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.