Sierra Bancorp (NASDAQ:BSRR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $28.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.93% from the company’s previous close.
According to Zacks, “Sierra Bancorp is the bank holding company for the Bank of the Sierra. The Bank of the Sierra is the largest independent bank headquartered in the South Valley, and operates branch offices as well as real estate centers, agricultural credit centers and a bank card center. “
Several other research analysts also recently commented on the company. ValuEngine upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. BidaskClub upgraded Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Hovde Group lifted their target price on Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. upgraded Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.00 target price on shares of Sierra Bancorp in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $27.95.
Sierra Bancorp (NASDAQ BSRR) traded down 0.261% during midday trading on Friday, hitting $24.795. The stock had a trading volume of 46,465 shares. The firm has a market capitalization of $343.11 million, a price-to-earnings ratio of 17.980 and a beta of 0.88. Sierra Bancorp has a 1-year low of $17.25 and a 1-year high of $29.50. The firm has a 50-day moving average price of $25.76 and a 200-day moving average price of $25.74.
Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. The company had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. On average, equities research analysts anticipate that Sierra Bancorp will post $1.52 earnings per share for the current year.
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In related news, Director Robert L. Fields sold 2,465 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total value of $66,875.45. Following the completion of the sale, the director now directly owns 410,078 shares in the company, valued at approximately $11,125,416.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Fields sold 9,600 shares of the business’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 sale, the director now owns 412,543 shares of the company’s stock, valued at $11,196,417.02. The disclosure for this sale can be found here. Insiders have sold a total of 12,165 shares of company stock valued at $330,119 over the last quarter. 15.24% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Sierra Bancorp by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 905,877 shares of the financial services provider’s stock valued at $22,239,000 after purchasing an additional 29,524 shares during the period. Wellington Management Group LLP boosted its stake in Sierra Bancorp by 143.4% in the 1st quarter. Wellington Management Group LLP now owns 758,673 shares of the financial services provider’s stock valued at $20,811,000 after purchasing an additional 446,962 shares during the period. Vanguard Group Inc. boosted its stake in Sierra Bancorp by 9.7% in the 2nd quarter. Vanguard Group Inc. now owns 499,960 shares of the financial services provider’s stock valued at $12,274,000 after purchasing an additional 44,242 shares during the period. Northern Trust Corp boosted its stake in Sierra Bancorp by 4.3% in the 2nd quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock valued at $10,763,000 after purchasing an additional 18,165 shares during the period. Finally, FMR LLC boosted its stake in Sierra Bancorp by 64.3% in the 1st quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock valued at $10,667,000 after purchasing an additional 152,200 shares during the period. Institutional investors and hedge funds own 53.13% 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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