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

Sierra Bancorp (NASDAQ:BSRR) was upgraded by investment analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage currently has a $23.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s price target would suggest a potential upside of 21.50% from the stock’s previous close.

Sierra Bancorp Trading Up 1.0 %

Shares of Sierra Bancorp stock opened at $18.93 on Tuesday. The firm’s 50 day moving average is $18.69 and its 200 day moving average is $19.51. The firm has a market capitalization of $277.32 million, a PE 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 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 posted its earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Sierra Bancorp had a return on equity of 11.03% and a net margin of 18.01%. The company had revenue of $50.49 million for the quarter, compared to the consensus estimate of $35.15 million. Equities research analysts forecast that Sierra Bancorp will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of Sierra Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Sierra Bancorp by 16.0% in the 4th quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock valued at $165,000 after buying an additional 1,012 shares during the last quarter. Assenagon Asset Management S.A. increased its position 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 acquiring an additional 1,095 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Sierra Bancorp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock valued at $22,474,000 after acquiring an additional 3,348 shares during the last quarter. Bfsg LLC acquired a new position in shares of Sierra Bancorp during the fourth quarter worth $122,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Sierra Bancorp by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 7,260 shares during the period. 55.40% of the stock is currently owned by institutional investors.

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.