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.
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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