Sierra Bancorp (NASDAQ:BSRR) Stock Has Average Target Price of $38.67

Sierra Bancorp (NASDAQ:BSRR) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $43.75.

Several analysts have commented on BSRR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. DA Davidson raised their target price on shares of Sierra Bancorp from $47.00 to $48.50 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Raymond James Financial reaffirmed a “market perform” rating on shares of Sierra Bancorp in a report on Monday, October 26th. Zacks Research raised shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, Piper Sandler lowered their price objective on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd.

Sierra Bancorp News Roundup

Here are the key news stories impacting Sierra Bancorp this week:

• Positive Sentiment: Zacks upgraded Sierra Bancorp from “Hold” to “Strong Buy,” adding a notable bullish catalyst for the stock. BSRR was also included on Zacks’ Rank #1 momentum and Strong Buy lists. Best Momentum Stocks to Buy for October 29th
• Positive Sentiment: DA Davidson raised its price target to $48.50 and maintained a Buy rating, implying additional upside from recent trading levels. However, the broader analyst consensus remains Hold with an average target of $43.75. Sierra Bancorp Stock Price Expected to Rise, DA Davidson Analyst Says
• Positive Sentiment: Recent quarterly results exceeded expectations: earnings per share were $1.18 versus a $0.91 estimate, while revenue reached $40.08 million compared with expectations of $39.23 million. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 2.5% indicated yield.
• Positive Sentiment: Institutional ownership stands at 55.4%, with major investors including BlackRock, Jupiter Topco and Manufacturers Life Insurance recently establishing positions. This may provide longer-term institutional support.
• Negative Sentiment: CEO Kevin Mcphaill sold 4,000 shares for approximately $171,400, reducing his direct ownership by 5.9%. Director Lynda Scearcy separately sold 5,850 shares, cutting her position by 19.4%. Multiple insider sales can create short-term caution, although the transactions do not necessarily indicate a change in business outlook. Sierra Bancorp Insider Buying and Selling

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $41.90 on Monday. Sierra Bancorp has a 1 year low of $27.93 and a 1 year high of $44.00. The firm’s fifty day simple moving average is $40.15 and its 200 day simple moving average is $38.23. The firm has a market capitalization of $543.02 million, a P/E ratio of 10.80 and a beta of 0.75. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.27. The firm had revenue of $40.08 million during the quarter, compared to analysts’ expectations of $39.23 million. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. As a group, sell-side analysts predict that Sierra Bancorp will post 3.86 EPS for the current year.

Sierra Bancorp Dividend Announcement

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

Insider Buying and Selling

In other Sierra Bancorp news, CFO Christopher Treece sold 4,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.51, for a total transaction 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 represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $42.34, for a total transaction of $247,689.00. Following the completion of the transaction, the director owned 24,283 shares of the company’s stock, valued at $1,028,142.22. The trade was a 19.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,850 shares of company stock worth $589,129. Insiders own 11.83% of the company’s stock.

Institutional Trading of Sierra Bancorp

Several hedge funds have recently bought and sold shares of BSRR. BlackRock Inc. bought a new position in shares of Sierra Bancorp during the second quarter valued at approximately $53,249,000. Jupiter Topco LLC acquired a new position in shares of Sierra Bancorp during the second quarter worth about $17,865,000. The Manufacturers Life Insurance Company acquired a new stake in Sierra Bancorp in the second quarter valued at $14,576,000. Basswood Capital Management L.L.C. purchased a new position in Sierra Bancorp in the second quarter valued at approximately $7,503,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sierra Bancorp in the 2nd quarter valued at about $3,780,000. Institutional investors own 55.40% of the company’s stock.

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.