Sierra Bancorp (BSRR) Raised to “Outperform” at Hovde Group

Sierra Bancorp (NASDAQ:BSRR) was upgraded by stock analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a $30.00 price target on the financial services provider’s stock. Hovde Group’s price target would suggest a potential upside of 11.32% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. DA Davidson lowered shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. FIG Partners initiated coverage on Sierra Bancorp in a research note on Thursday, December 21st. They issued a “market-perform” rating and a $30.00 price objective for the company. Zacks Investment Research upgraded Sierra Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, December 26th. BidaskClub upgraded Sierra Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, ValuEngine lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.17.

Shares of Sierra Bancorp (NASDAQ:BSRR) traded up $0.50 on Wednesday, reaching $26.95. 27,125 shares of the company’s stock were exchanged, compared to its average volume of 24,962. The stock has a market cap of $405.70, a price-to-earnings ratio of 19.45, a PEG ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76. Sierra Bancorp has a 1-year low of $23.10 and a 1-year high of $29.50.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $27.91 million during the quarter, compared to analyst estimates of $26.90 million. Sierra Bancorp had a net margin of 19.02% and a return on equity of 10.34%. research analysts expect that Sierra Bancorp will post 1.98 earnings per share for the current fiscal year.

In other news, Director Gordon T. Woods sold 3,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.50, for a total value of $85,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robb Evans acquired 1,000 shares of Sierra Bancorp stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $27.76 per share, with a total value of $27,760.00. Following the completion of the purchase, the director now directly owns 16,200 shares in the company, valued at $449,712. The disclosure for this purchase can be found here. Corporate insiders own 20.77% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Sierra Bancorp by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 938,622 shares of the financial services provider’s stock worth $25,484,000 after buying an additional 32,745 shares during the period. BlackRock Inc. boosted its holdings in Sierra Bancorp by 1.2% in the 4th quarter. BlackRock Inc. now owns 807,836 shares of the financial services provider’s stock worth $21,456,000 after buying an additional 9,322 shares during the period. Vanguard Group Inc. boosted its holdings in Sierra Bancorp by 9.7% in the 2nd quarter. Vanguard Group Inc. now owns 499,960 shares of the financial services provider’s stock worth $12,274,000 after buying an additional 44,242 shares during the period. Banc Funds Co. LLC boosted its holdings in Sierra Bancorp by 9.3% in the 4th quarter. Banc Funds Co. LLC now owns 486,746 shares of the financial services provider’s stock worth $12,928,000 after buying an additional 41,434 shares during the period. Finally, Northern Trust Corp boosted its holdings in Sierra Bancorp by 4.3% in the 2nd quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock worth $10,763,000 after buying an additional 18,165 shares during the period. 49.19% of the stock is owned by institutional investors.

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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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