Raymond James Financial, Inc. upgraded shares of Sierra Bancorp (NASDAQ:BSRR) from a market perform rating to an outperform rating in a report released on Tuesday, MarketBeat Ratings reports. Raymond James Financial, Inc. currently has $27.00 price objective on the financial services provider’s stock.

A number of other brokerages have also weighed in on BSRR. ValuEngine upgraded Sierra Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a hold rating and set a $27.00 price objective on shares of Sierra Bancorp in a research report on Friday, July 14th. Zacks Investment Research lowered Sierra Bancorp from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Finally, DA Davidson upgraded Sierra Bancorp from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $27.75.

Shares of Sierra Bancorp (BSRR) opened at 26.65 on Tuesday. The company has a 50-day moving average price of $24.86 and a 200 day moving average price of $26.13. Sierra Bancorp has a 1-year low of $17.25 and a 1-year high of $29.50. The firm has a market capitalization of $368.60 million, a price-to-earnings ratio of 20.36 and a beta of 0.85.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $23.20 million for the quarter, compared to analyst estimates of $22.80 million. Sierra Bancorp had a return on equity of 9.22% and a net margin of 20.35%. On average, equities research analysts predict that Sierra Bancorp will post $1.51 EPS for the current year.

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The company 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 dividend of $0.14 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 2.10%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 40.88%.

Institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised 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. Russell Investments Group Ltd. purchased a new position in shares of Sierra Bancorp during the fourth quarter valued at approximately $213,000. Oxford Asset Management purchased a new position in shares of Sierra Bancorp during the first quarter valued at approximately $490,000. Teachers Advisors LLC raised its position in shares of Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock valued at $516,000 after buying an additional 1,300 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Sierra Bancorp by 33.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock valued at $582,000 after buying an additional 5,300 shares during the period. Hedge funds and other institutional investors own 54.07% 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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