Sierra Bancorp (NASDAQ:BSRR) Price Target Cut to $23.00

Sierra Bancorp (NASDAQ:BSRR) had its price target cut by analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 21.50% from the company’s current price.

Separately, Janney Montgomery Scott upgraded shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock opened at $18.93 on Tuesday. The stock has a market capitalization of $277.32 million, a price-to-earnings ratio of 8.02 and a beta of 0.93. Sierra Bancorp has a 1-year low of $15.01 and a 1-year high of $23.21. The firm has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $19.51. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, January 29th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.26). The company had revenue of $50.49 million for the quarter, compared to analyst estimates of $35.15 million. Sierra Bancorp had a net margin of 18.01% and a return on equity of 11.03%. On average, sell-side analysts expect that Sierra Bancorp will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On Sierra Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BSRR. SG Americas Securities LLC bought a new stake in Sierra Bancorp in the 3rd quarter valued at $120,000. Private Management Group Inc. increased its holdings in Sierra Bancorp by 4.0% in the 3rd quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock valued at $12,394,000 after buying an additional 25,256 shares during the period. Los Angeles Capital Management LLC bought a new stake in Sierra Bancorp in the 3rd quarter valued at $689,000. Assenagon Asset Management S.A. increased its holdings in Sierra Bancorp by 2.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock valued at $1,002,000 after buying an additional 1,095 shares during the period. Finally, Bfsg LLC bought a new stake in Sierra Bancorp in the 4th quarter valued at $122,000. Institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

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.