Sierra Bancorp (NASDAQ:BSRR) Raised to Buy at Zacks Investment Research
Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $27.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.27% 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. “
Other equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. DA Davidson raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, May 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $26.83.
Shares of Sierra Bancorp (NASDAQ BSRR) traded down 1.03% on Tuesday, hitting $24.05. 12,912 shares of the company’s stock were exchanged. The firm has a market cap of $332.64 million, a P/E ratio of 18.37 and a beta of 0.85. The stock’s 50 day moving average is $24.85 and its 200 day moving average is $26.26. Sierra Bancorp has a 12 month low of $15.83 and a 12 month high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.02. The business had revenue of $22.02 million during the quarter, compared to analysts’ expectations of $22.35 million. Sierra Bancorp had a return on equity of 8.79% and a net margin of 19.99%. On average, equities analysts predict that Sierra Bancorp will post $1.30 earnings per share for the current year.
In other Sierra Bancorp news, Director Robb Evans acquired 1,000 shares of the stock in a transaction dated Friday, April 28th. The stock was purchased at an average cost of $25.39 per share, for a total transaction of $25,390.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $380,850. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.24% of the company’s stock.
A number of large investors have recently bought and sold shares of BSRR. American International Group Inc. raised its stake in Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock worth $197,000 after buying an additional 478 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Sierra Bancorp during the fourth quarter worth about $213,000. Oxford Asset Management bought a new position in shares of Sierra Bancorp during the first quarter worth about $490,000. Teachers Advisors LLC increased its position in shares of Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,300 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Sierra Bancorp by 33.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock worth $582,000 after buying an additional 5,300 shares during the last quarter. Institutional investors own 54.07% 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. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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