Sierra Bancorp (BSRR) Upgraded to “Outperform” by Hovde Group

Sierra Bancorp (NASDAQ:BSRR) was upgraded by research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a report released on Wednesday. The firm currently has a $30.00 target price on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 13.42% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. FIG Partners began coverage on shares of Sierra Bancorp in a research note on Thursday, December 21st. They set a “market-perform” rating and a $30.00 price target for the company. BidaskClub raised shares of Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson cut shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. Finally, ValuEngine cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Sierra Bancorp presently has a consensus rating of “Hold” and an average price target of $29.17.

Sierra Bancorp (NASDAQ BSRR) opened at $26.45 on Wednesday. The firm has a market cap of $405.70, a P/E ratio of 19.45, a PEG ratio of 1.68 and a beta of 0.75. Sierra Bancorp has a 52 week low of $23.10 and a 52 week high of $29.50. 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 (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $27.91 million during the quarter, compared to analysts’ expectations of $26.90 million. Sierra Bancorp had a net margin of 19.02% and a return on equity of 10.34%. equities research analysts predict that Sierra Bancorp will post 1.98 earnings per share for the current fiscal year.

In related news, Director Robb Evans acquired 1,000 shares of the business’s 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 acquisition, the director now owns 16,200 shares in the company, valued at approximately $449,712. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon T. Woods sold 3,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $28.50, for a total value of $85,500.00. The disclosure for this sale can be found here. Corporate insiders own 20.77% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Sierra Bancorp by 4.3% in the 2nd quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock valued at $10,763,000 after buying an additional 18,165 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Sierra Bancorp by 10.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 132,980 shares of the financial services provider’s stock valued at $3,263,000 after purchasing an additional 12,657 shares during the last quarter. Foundry Partners LLC lifted its holdings in Sierra Bancorp by 7.9% during the 3rd quarter. Foundry Partners LLC now owns 180,065 shares of the financial services provider’s stock valued at $4,889,000 after purchasing an additional 13,225 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Sierra Bancorp during the 3rd quarter valued at $658,000. Finally, State Street Corp lifted its holdings in Sierra Bancorp by 6.3% during the 2nd 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. 49.19% of the stock is owned by institutional investors.

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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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