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

Sierra Bancorp (NASDAQ:BSRR) had its price target reduced by Keefe, Bruyette & Woods from $24.00 to $23.00 in a report published on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

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

Sierra Bancorp Stock Up 5.4 %

Shares of BSRR stock opened at $19.96 on Tuesday. The stock has a 50 day moving average of $18.69 and a 200 day 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. The stock has a market cap of $292.37 million, a P/E ratio of 8.46 and a beta of 0.93. Sierra Bancorp has a twelve month low of $15.01 and a twelve month high of $23.21.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share 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 analysts’ expectations of $35.15 million. Sierra Bancorp had a net margin of 18.01% and a return on equity of 11.03%. As a group, sell-side analysts expect that Sierra Bancorp will post 2.33 EPS for the current year.

Sierra Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, April 29th. Sierra Bancorp’s payout ratio is currently 38.98%.

Institutional Trading of Sierra Bancorp

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Sierra Bancorp by 0.3% in 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 purchasing an additional 3,348 shares during the period. Private Management Group Inc. boosted its stake in shares of Sierra Bancorp by 4.0% in the third quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after acquiring an additional 25,256 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Sierra Bancorp by 27.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 67,149 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 14,320 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Sierra Bancorp by 20.0% in the fourth 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 during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Sierra Bancorp by 118.2% in the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 8,243 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

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.