Sierra Bancorp (NASDAQ:BSRR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

BSRR has been the topic of several other research reports. DA Davidson upgraded shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, May 23rd. Zacks Investment Research upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, July 11th. Hovde Group increased their price target on shares of Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a report on Friday, July 28th. BidaskClub downgraded shares of Sierra Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Raymond James Financial, Inc. upgraded shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.75.

Shares of Sierra Bancorp (BSRR) traded down 2.26% during mid-day trading on Friday, hitting $25.04. 36,588 shares of the stock were exchanged. Sierra Bancorp has a 52-week low of $17.25 and a 52-week high of $29.50. The stock has a 50-day moving average price of $25.22 and a 200 day moving average price of $26.14. The firm has a market cap of $346.50 million, a price-to-earnings ratio of 18.16 and a beta of 0.86.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%. The company had revenue of $23.20 million for the quarter, compared to the consensus estimate of $22.80 million. On average, equities research analysts expect that Sierra Bancorp will post $1.52 earnings per share for the current year.

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In other news, Director Robert L. Fields sold 9,600 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $27.14, for a total transaction of $260,544.00. Following the sale, the director now owns 412,543 shares of the company’s stock, valued at approximately $11,196,417.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Fields sold 2,465 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total transaction of $66,875.45. Following the sale, the director now directly owns 410,078 shares in the company, valued at approximately $11,125,416.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,165 shares of company stock worth $330,119. 15.24% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Teachers Advisors LLC boosted its stake 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. Bank of New York Mellon Corp boosted its stake in shares of Sierra Bancorp by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 91,748 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 2,486 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Sierra Bancorp by 143.4% in the first quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock worth $20,811,000 after buying an additional 446,962 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Sierra Bancorp by 206.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,580 shares of the financial services provider’s stock worth $894,000 after buying an additional 21,941 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of 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 during the last quarter. 54.23% of the stock is currently owned by institutional investors and hedge funds.

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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