Sierra Bancorp (NASDAQ:BSRR) Stock Rating Upgraded by Zacks Research

Sierra Bancorp (NASDAQ:BSRR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other equities research analysts have also commented on BSRR. Raymond James Financial reiterated a “market perform” rating on shares of Sierra Bancorp in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. DA Davidson increased their price objective on Sierra Bancorp from $47.00 to $48.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Piper Sandler decreased their price objective on 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 issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.75.

Sierra Bancorp Stock Up 0.2%

BSRR stock opened at $42.43 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Sierra Bancorp has a one year low of $27.93 and a one year high of $44.00. The firm’s fifty day moving average is $40.10 and its 200 day moving average is $38.19. The firm has a market cap of $549.89 million, a PE ratio of 10.94 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.27. Sierra Bancorp had a return on equity of 13.86% and a net margin of 25.32%. The company had revenue of $40.08 million for the quarter, compared to the consensus estimate of $39.23 million. On average, research analysts forecast that Sierra Bancorp will post 3.86 EPS for the current year.

Insider Transactions at Sierra Bancorp

In related news, CEO Kevin J. Mcphaill sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $42.85, for a total value of $171,400.00. Following the completion of the transaction, the chief executive officer directly owned 63,807 shares in the company, valued at approximately $2,734,129.95. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lynda Scearcy sold 5,850 shares of Sierra Bancorp stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.34, for a total value of $247,689.00. Following the completion of the sale, the director owned 24,283 shares in the company, valued at $1,028,142.22. This represents a 19.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.83% of the company’s stock.

Institutional Trading of Sierra Bancorp

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

More Sierra Bancorp News

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

• Positive Sentiment: Zacks upgraded Sierra Bancorp from “Hold” to “Strong Buy,” adding to the bullish momentum surrounding the shares. BSRR was also included on Zacks’ Rank #1 momentum and Strong Buy lists. Zacks Research ratings
• Positive Sentiment: DA Davidson raised its price target to $48.50 from $47.00 and maintained a Buy rating, implying additional upside from the reported $42.43 share price. The broader analyst consensus remains Hold, with an average target of $43.75. DA Davidson price target report
• Positive Sentiment: Sierra Bancorp’s latest earnings exceeded expectations: quarterly EPS was $1.18 versus the $0.91 consensus, while revenue reached $40.08 million compared with estimates of $39.23 million. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 2.5% annualized yield. Sierra Bancorp earnings and dividend report
• Neutral Sentiment: Institutional ownership stands at approximately 55.4%, with several large investors recently establishing or increasing positions. This may provide longer-term support but does not necessarily indicate near-term buying activity.
• 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 holdings by 19.4%. Multiple insider sales can raise caution about near-term valuation, although both executives retain substantial positions. Sierra Bancorp insider transactions

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.