Sierra Bancorp (NASDAQ:BSRR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Sierra Bancorp (NASDAQ:BSRR) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $42.00 to $44.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods‘s price objective would indicate a potential upside of 3.14% from the company’s current price.

Other analysts have also issued research reports about the stock. Zacks Research raised shares of Sierra Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. DA Davidson increased their target price on shares of 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 reissued a “market perform” rating on shares of Sierra Bancorp in a research report on Monday, October 26th. Weiss Ratings upgraded shares of Sierra Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Piper Sandler lowered their price target on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.83.

Sierra Bancorp Trading Up 1.8%

NASDAQ BSRR opened at $42.66 on Tuesday. The stock has a market capitalization of $553.00 million, a price-to-earnings ratio of 10.99 and a beta of 0.75. Sierra Bancorp has a one year low of $27.93 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average is $40.20 and its 200-day moving average is $38.27.

Sierra Bancorp (NASDAQ:BSRR) last issued 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. The company had revenue of $40.08 million for the quarter, compared to the consensus estimate of $39.23 million. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. Equities research analysts predict that Sierra Bancorp will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other Sierra Bancorp news, CFO Christopher Treece sold 4,000 shares of the stock in a transaction dated Thursday, October 29th. The shares were 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 owned 35,095 shares in the company, valued at $1,491,888.45. This trade 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 available 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. Insiders sold 13,850 shares of company stock worth $589,129 over the last quarter. 11.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BSRR. Sequoia Financial Advisors LLC bought a new stake in shares of Sierra Bancorp during the 2nd quarter valued at $385,000. Engineers Gate Manager LP purchased a new stake in Sierra Bancorp during the 2nd quarter worth about $375,000. Integrated Wealth Concepts LLC purchased a new stake in Sierra Bancorp during the 2nd quarter worth about $94,000. Corient Private Wealth LP bought a new position in Sierra Bancorp in the 2nd quarter worth about $219,000. Finally, Ameritas Advisory Services LLC bought a new position in Sierra Bancorp in the 2nd quarter worth about $94,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

About Sierra Bancorp

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.