Sierra Bancorp (NASDAQ:BSRR) PT Lowered to $23.00

Sierra Bancorp (NASDAQ:BSRR) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 10.05% from the company’s previous close.

Separately, Janney Montgomery Scott raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and cut their target price for the stock from $24.00 to $23.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sierra Bancorp presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Sierra Bancorp Trading Up 4.7 %

Shares of NASDAQ:BSRR opened at $20.90 on Tuesday. The stock has a market capitalization of $306.19 million, a PE ratio of 8.62 and a beta of 0.93. Sierra Bancorp has a 1 year low of $15.01 and a 1 year high of $23.21. The firm has a fifty day moving average price of $18.73 and a 200 day moving average price of $19.52. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The firm had revenue of $50.49 million for the quarter, compared to analyst estimates of $35.15 million. Sierra Bancorp had a return on equity of 11.11% and a net margin of 17.80%. Analysts expect that Sierra Bancorp will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new position in shares of Sierra Bancorp during the third quarter valued at about $689,000. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $1,514,000 after buying an additional 14,320 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 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 valued at $165,000 after buying an additional 1,012 shares during the last quarter. Private Management Group Inc. raised its position in shares of 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 valued at $12,394,000 after buying an additional 25,256 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Sierra Bancorp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock valued at $22,474,000 after buying an additional 3,348 shares during the last quarter. Institutional investors and hedge funds 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.