Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

A number of other research firms have also issued reports on BSRR. BidaskClub upgraded Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. DA Davidson lowered Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. Hovde Group increased their target price on Sierra Bancorp from $26.50 to $27.75 and gave the company a “market perform” rating in a research note on Friday, July 28th. ValuEngine lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. upgraded Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.15.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Sierra Bancorp had a return on equity of 9.97% and a net margin of 21.59%. The business had revenue of $24.35 million during the quarter, compared to analyst estimates of $23.90 million.

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In other Sierra Bancorp news, Director Robb Evans purchased 1,000 shares of Sierra Bancorp stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average price of $26.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the director now owns 16,000 shares of the company’s stock, valued at approximately $416,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.24% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Sierra Bancorp by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 905,877 shares of the financial services provider’s stock valued at $22,239,000 after purchasing an additional 29,524 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Sierra Bancorp by 9.7% in the second quarter. Vanguard Group Inc. now owns 499,960 shares of the financial services provider’s stock valued at $12,274,000 after purchasing an additional 44,242 shares during the last quarter. Northern Trust Corp boosted its holdings in Sierra Bancorp by 4.3% in the second quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock valued at $10,763,000 after purchasing an additional 18,165 shares during the last quarter. FMR LLC boosted its holdings in Sierra Bancorp by 64.3% in the first quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock valued at $10,667,000 after purchasing an additional 152,200 shares during the last quarter. Finally, State Street Corp boosted its holdings in Sierra Bancorp by 6.3% in the second quarter. State Street Corp now owns 215,866 shares of the financial services provider’s stock valued at $5,298,000 after purchasing an additional 12,798 shares during the last quarter. 53.13% of the stock is owned by hedge funds and other institutional investors.

Sierra Bancorp Company Profile

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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