Sierra Bancorp (NASDAQ:BSRR) Price Target Raised to $44.00

Sierra Bancorp (NASDAQ:BSRR) had its target price raised by Keefe, Bruyette & Woods from $42.00 to $44.00 in a report published on Tuesday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

BSRR has been the topic of several other reports. DA Davidson raised their target price on Sierra Bancorp from $47.00 to $48.50 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Raymond James Financial reiterated a “market perform” rating on shares of Sierra Bancorp in a research report on Monday, October 26th. Zacks Research upgraded shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Weiss Ratings raised Sierra Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Piper Sandler lowered their price objective on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sierra Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Sierra Bancorp Stock Down 2.1%

NASDAQ:BSRR opened at $41.96 on Tuesday. The company has a market capitalization of $544.22 million, a price-to-earnings ratio of 11.04 and a beta of 0.75. Sierra Bancorp has a one year low of $28.35 and a one year high of $44.00. The stock has a 50-day simple moving average of $40.36 and a 200 day simple moving average of $38.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 0.81.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.27. Sierra Bancorp had a return on equity of 13.89% and a net margin of 25.32%. The business had revenue of $40.08 million for the quarter, compared to analysts’ expectations of $39.23 million. Sell-side analysts predict that Sierra Bancorp will post 3.86 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.6%. Sierra Bancorp’s dividend payout ratio is 27.84%.

Insider Activity at Sierra Bancorp

In related news, CEO Kevin J. Mcphaill sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $42.85, for a total transaction of $171,400.00. Following the transaction, the chief executive officer directly owned 63,807 shares in the company, valued at $2,734,129.95. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher G. Treece sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.51, for a total value of $170,040.00. Following the completion of the transaction, the chief financial officer directly owned 35,095 shares of the company’s stock, valued at approximately $1,491,888.45. This trade represents a 10.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,860 shares of company stock worth $926,750. Company insiders own 11.83% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in shares of Sierra Bancorp during the second quarter valued at $45,000. Ameritas Advisory Services LLC acquired a new stake in shares of Sierra Bancorp in the 2nd quarter valued at $94,000. Integrated Wealth Concepts LLC bought a new stake in shares of Sierra Bancorp in the 2nd quarter worth about $94,000. Public Employees Retirement System of Ohio bought a new stake in shares of Sierra Bancorp in the 2nd quarter worth about $149,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Sierra Bancorp by 24.3% in the 1st quarter. Quantinno Capital Management LP now owns 24,825 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 4,858 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Sierra Bancorp Company Profile

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.