Sierra Bancorp (NASDAQ:BSRR) had its price target lifted by Hovde Group from $26.50 to $27.75 in a report published on Friday, Marketbeat.com reports. Hovde Group currently has a market perform rating on the financial services provider’s stock.

BSRR has been the subject of several other research reports. DA Davidson raised shares of Sierra Bancorp from a neutral rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, May 23rd. ValuEngine lowered shares of Sierra Bancorp from a buy rating to a hold rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Sierra Bancorp from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub lowered shares of Sierra Bancorp from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Finally, Raymond James Financial, Inc. raised shares of Sierra Bancorp from a market perform rating to an outperform rating and set a $27.00 price objective for the company in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $27.75.

Sierra Bancorp (NASDAQ BSRR) opened at 27.015 on Friday. The stock has a market cap of $373.67 million, a PE ratio of 19.590 and a beta of 0.85. The firm has a 50-day moving average of $24.90 and a 200 day moving average of $26.14. Sierra Bancorp has a 12 month low of $16.98 and a 12 month high of $29.50.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.22%. The company had revenue of $23.20 million during the quarter, compared to analyst estimates of $22.80 million. Analysts anticipate that Sierra Bancorp will post $1.51 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Tuesday, August 1st. Sierra Bancorp’s payout ratio is currently 40.88%.

In other news, Director Robert L. Fields sold 9,600 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the completion of the transaction, the director now directly owns 412,543 shares in the company, valued at $11,196,417.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.24% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BSRR. FMR LLC increased its position in shares of Sierra Bancorp by 64.3% in the first quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock valued at $10,667,000 after buying an additional 152,200 shares during the period. Wellington Management Group LLP increased its position in shares of Sierra Bancorp by 143.4% in the first quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock valued at $20,811,000 after buying an additional 446,962 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Sierra Bancorp by 206.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,580 shares of the financial services provider’s stock valued at $894,000 after buying an additional 21,941 shares during the period. American International Group Inc. increased its position in shares of Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after buying an additional 478 shares during the period. Finally, Martingale Asset Management L P increased its position in shares of Sierra Bancorp by 17.7% in the first quarter. Martingale Asset Management L P now owns 99,035 shares of the financial services provider’s stock valued at $2,717,000 after buying an additional 14,903 shares during the period. Institutional investors and hedge funds own 54.16% of the company’s stock.

Sierra Bancorp Company Profile

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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