Sierra Bancorp (NASDAQ:BSRR) Price Target Lowered to $23.00 at Keefe, Bruyette & Woods

Sierra Bancorp (NASDAQ:BSRR) had its target price decreased by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research report released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Janney Montgomery Scott raised Sierra Bancorp from a neutral rating to a buy rating and dropped their price target for the stock from $24.00 to $23.00 in a research report on Tuesday.

Sierra Bancorp Stock Performance

NASDAQ BSRR opened at $20.50 on Tuesday. Sierra Bancorp has a 1-year low of $15.01 and a 1-year high of $23.21. The company has a market capitalization of $300.33 million, a P/E ratio of 8.44 and a beta of 0.93. The business has a 50 day moving average price of $18.79 and a 200 day moving average price of $19.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.26). Sierra Bancorp had a net margin of 17.80% and a return on equity of 11.11%. The firm had revenue of $50.49 million during the quarter, compared to analysts’ expectations of $35.15 million. Sell-side analysts expect that Sierra Bancorp will post 2.45 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Monday, April 29th. Sierra Bancorp’s payout ratio is 38.02%.

Hedge Funds Weigh In On Sierra Bancorp

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Sierra Bancorp during the third quarter worth $689,000. Private Management Group Inc. boosted its holdings in shares of Sierra Bancorp by 4.0% during the third quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after purchasing an additional 25,256 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Sierra Bancorp by 27.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 67,149 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 14,320 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Sierra Bancorp during the fourth quarter worth $280,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Sierra Bancorp by 118.2% during the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 8,243 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.