Keefe, Bruyette & Woods Boosts Sierra Bancorp (NASDAQ:BSRR) Price Target to $35.00

Sierra Bancorp (NASDAQ:BSRR) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $30.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 13.09% from the stock’s previous close.

Separately, StockNews.com upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th.

Sierra Bancorp Stock Performance

Shares of BSRR traded up $0.15 during midday trading on Wednesday, reaching $30.95. 11,492 shares of the stock were exchanged, compared to its average volume of 32,599. The business’s 50-day moving average price is $29.76 and its 200 day moving average price is $26.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79. Sierra Bancorp has a twelve month low of $17.69 and a twelve month high of $35.13. The company has a market capitalization of $445.37 million, a price-to-earnings ratio of 12.28 and a beta of 0.92.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.48% and a net margin of 17.91%. The business had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $38.30 million. On average, sell-side analysts expect that Sierra Bancorp will post 2.79 EPS for the current fiscal year.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, Director James C. Holly sold 5,000 shares of Sierra Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.98, for a total value of $144,900.00. Following the sale, the director now owns 313,370 shares of the company’s stock, valued at approximately $9,081,462.60. The trade was a 1.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert L. Berra sold 2,540 shares of Sierra Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.24, for a total value of $81,889.60. Following the completion of the sale, the director now directly owns 150,063 shares in the company, valued at $4,838,031.12. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,056 shares of company stock worth $244,741 in the last quarter. Company insiders own 11.63% 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 BSRR. Financial Management Professionals Inc. purchased a new stake in Sierra Bancorp in the 3rd quarter valued at approximately $29,000. SG Americas Securities LLC purchased a new stake in Sierra Bancorp in the 3rd quarter valued at approximately $142,000. Franklin Resources Inc. purchased a new stake in Sierra Bancorp in the 3rd quarter valued at approximately $216,000. Panagora Asset Management Inc. boosted its stake in shares of Sierra Bancorp by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 904 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Sierra Bancorp by 9.7% during the 3rd quarter. Jane Street Group LLC now owns 16,827 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 1,484 shares in 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.