Sierra Bancorp (NASDAQ:BSRR) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $30.00 price objective on the financial services provider’s stock. DA Davidson’s price objective suggests a potential upside of 18.67% from the stock’s current price.
Separately, Zacks Investment Research lowered shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Sierra Bancorp currently has an average rating of “Hold” and an average price target of $25.88.
Sierra Bancorp (NASDAQ:BSRR) opened at 25.28 on Tuesday. The company has a market cap of $349.65 million, a P/E ratio of 19.31 and a beta of 0.83. Sierra Bancorp has a 12 month low of $15.60 and a 12 month high of $29.50. The stock has a 50 day moving average of $25.80 and a 200-day moving average of $25.71.
Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, April 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Sierra Bancorp had a return on equity of 8.77% and a net margin of 20.02%. The firm had revenue of $22.02 million during the quarter, compared to the consensus estimate of $22.35 million. Equities research analysts expect that Sierra Bancorp will post $1.45 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were paid a $0.14 dividend. The ex-dividend date was Tuesday, May 2nd. This represents a $0.56 annualized dividend and a dividend yield of 2.22%. Sierra Bancorp’s payout ratio is 43.41%.
In other news, Director Robb Evans bought 1,000 shares of Sierra Bancorp stock in a transaction dated Friday, April 28th. The stock was purchased at an average price of $25.39 per share, for a total transaction of $25,390.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $380,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 15.24% of the company’s stock.
Several hedge funds have recently bought and sold shares of BSRR. Prudential Financial Inc. raised its stake in Sierra Bancorp by 8.3% in the third quarter. Prudential Financial Inc. now owns 40,644 shares of the financial services provider’s stock valued at $762,000 after buying an additional 3,100 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Sierra Bancorp during the fourth quarter valued at $213,000. Bessemer Group Inc. raised its position in Sierra Bancorp by 98.2% in the fourth quarter. Bessemer Group Inc. now owns 21,600 shares of the financial services provider’s stock valued at $574,000 after buying an additional 10,700 shares during the last quarter. State Street Corp raised its position in Sierra Bancorp by 3.0% in the fourth quarter. State Street Corp now owns 202,875 shares of the financial services provider’s stock valued at $5,395,000 after buying an additional 5,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sierra Bancorp by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 827,845 shares of the financial services provider’s stock valued at $22,012,000 after buying an additional 36,403 shares during the last quarter. Hedge funds and other institutional investors own 48.32% of the company’s stock.
About Sierra Bancorp
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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