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, December 26th. The brokerage currently has a $31.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.87% from the company’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. FIG Partners assumed coverage on shares of Sierra Bancorp in a research report on Thursday, December 21st. They issued a “market-perform” rating and a $30.00 price target for the company. ValuEngine cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. DA Davidson cut shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of Sierra Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. One 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 company. The company currently has an average rating of “Hold” and a consensus price target of $28.79.
Shares of Sierra Bancorp (NASDAQ:BSRR) opened at $27.71 on Tuesday. The stock has a market cap of $419.12, a P/E ratio of 18.47, a PEG ratio of 1.77 and a beta of 0.80. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Sierra Bancorp has a 1-year low of $23.10 and a 1-year high of $29.50.
Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Sierra Bancorp had a net margin of 21.59% and a return on equity of 9.87%. The firm had revenue of $24.35 million during the quarter, compared to the consensus estimate of $23.90 million. research analysts forecast that Sierra Bancorp will post 1.52 earnings per share for the current fiscal year.
In other Sierra Bancorp news, Director Gordon T. Woods sold 3,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $28.50, for a total value of $85,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robb Evans purchased 1,000 shares of Sierra Bancorp stock in a transaction on Monday, October 30th. The stock was acquired at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at $416,000. The disclosure for this purchase can be found here. Insiders own 20.77% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Sierra Bancorp during the second quarter valued at approximately $118,000. SG Americas Securities LLC purchased a new position in shares of Sierra Bancorp during the third quarter valued at approximately $148,000. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Sierra Bancorp by 12.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock valued at $177,000 after buying an additional 800 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Sierra Bancorp during the third quarter valued at approximately $204,000. Finally, Wells Fargo & Company MN increased its position in Sierra Bancorp by 2.4% during the second quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 196 shares during the last quarter. 49.24% of the stock is currently owned by institutional investors and hedge funds.
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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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