Sierra Bancorp (NASDAQ:BSRR) Stock Rating Upgraded by Janney Montgomery Scott

Sierra Bancorp (NASDAQ:BSRR) was upgraded by research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $23.00 price objective on the financial services provider’s stock, down from their prior price objective of $24.00. Janney Montgomery Scott’s price target points to a potential upside of 10.05% from the stock’s current price.

Sierra Bancorp Trading Up 4.7 %

Sierra Bancorp stock opened at $20.90 on Tuesday. The stock has a 50-day moving average of $18.73 and a two-hundred day moving average of $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 one year low of $15.01 and a one year high of $23.21. The stock has a market cap of $306.19 million, a PE ratio of 8.62 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 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 business had revenue of $50.49 million during the quarter, compared to analysts’ expectations of $35.15 million. On average, research analysts anticipate that Sierra Bancorp will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Sierra Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSRR. SG Americas Securities LLC grew its stake in Sierra Bancorp by 16.0% during the 4th quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,012 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Sierra Bancorp by 2.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 1,095 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sierra Bancorp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock worth $22,474,000 after acquiring an additional 3,348 shares in the last quarter. Bfsg LLC acquired a new position in shares of Sierra Bancorp during the 4th quarter worth about $122,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Sierra Bancorp by 20.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 7,260 shares in the last quarter. 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.