Sierra Bancorp (NASDAQ:BSRR) Price Target Lowered to $23.00 at Keefe, Bruyette & Woods

Sierra Bancorp (NASDAQ:BSRR) had its price target reduced by research analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.05% from the company’s current price.

Separately, Janney Montgomery Scott upgraded shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and dropped their target price for the company from $24.00 to $23.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Sierra Bancorp Trading Up 4.7 %

NASDAQ:BSRR opened at $20.90 on Tuesday. The firm’s fifty day moving average is $18.73 and its 200-day moving average is $19.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Sierra Bancorp has a 52 week low of $15.01 and a 52 week high of $23.21. The firm has a market cap of $306.19 million, a P/E ratio of 8.62 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Sierra Bancorp had a net margin of 17.80% and a return on equity of 11.11%. The company had revenue of $50.49 million for the quarter, compared to analyst estimates of $35.15 million. Equities analysts expect that Sierra Bancorp will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BSRR. SG Americas Securities LLC acquired a new position in Sierra Bancorp during the third quarter worth $120,000. Private Management Group Inc. raised its holdings in Sierra Bancorp by 4.0% during the third quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after buying an additional 25,256 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Sierra Bancorp during the third quarter worth $689,000. Assenagon Asset Management S.A. raised its holdings in Sierra Bancorp by 2.1% during the third quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 1,095 shares during the last quarter. Finally, Bfsg LLC acquired a new position in Sierra Bancorp during the fourth quarter worth $122,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Sierra Bancorp

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.