Sierra Bancorp (NASDAQ:BSRR) Stock Rating Upgraded by Zacks Research

Sierra Bancorp (NASDAQ:BSRR) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other equities research analysts also recently weighed in on BSRR. Raymond James Financial restated a “market perform” rating on shares of Sierra Bancorp in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. Piper Sandler dropped their price objective on Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, DA Davidson upped their price objective on Sierra Bancorp from $47.00 to $48.50 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

Sierra Bancorp Trading Up 0.2%

Shares of NASDAQ:BSRR opened at $42.43 on Wednesday. The company has a 50 day moving average of $40.10 and a 200-day moving average of $38.19. The firm has a market cap of $549.89 million, a P/E ratio of 10.91 and a beta of 0.76. Sierra Bancorp has a twelve month low of $27.93 and a twelve month high of $44.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.27. Sierra Bancorp had a net margin of 25.32% and a return on equity of 13.86%. The business had revenue of $40.08 million during the quarter, compared to analysts’ expectations of $39.23 million. As a group, analysts anticipate that Sierra Bancorp will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Sierra Bancorp

In other Sierra Bancorp news, CEO Kevin Mcphaill sold 4,000 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.85, for a total value of $171,400.00. Following the transaction, the chief executive officer owned 63,807 shares of the company’s stock, valued at approximately $2,734,129.95. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynda Scearcy sold 5,850 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.34, for a total value of $247,689.00. Following the sale, the director owned 24,283 shares of the company’s stock, valued at $1,028,142.22. This trade represents a 19.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 11.83% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

Several hedge funds have recently modified their holdings of BSRR. Empowered Funds LLC acquired a new position in shares of Sierra Bancorp in the 2nd quarter valued at $3,346,000. The Manufacturers Life Insurance Company acquired a new stake in Sierra Bancorp during the 2nd quarter worth about $14,576,000. Janus Henderson Group PLC raised its holdings in Sierra Bancorp by 32.9% during the 1st quarter. Janus Henderson Group PLC now owns 344,133 shares of the financial services provider’s stock worth $11,673,000 after buying an additional 85,098 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in Sierra Bancorp during the 2nd quarter worth about $7,503,000. Finally, BlackRock Inc. purchased a new stake in Sierra Bancorp during the second quarter valued at about $53,249,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.