Sierra Bancorp (NASDAQ:BSRR) Upgraded at StockNews.com

Sierra Bancorp (NASDAQ:BSRR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, Keefe, Bruyette & Woods lifted their price target on Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd.

Sierra Bancorp Stock Up 3.4 %

Shares of BSRR stock opened at $28.93 on Tuesday. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $31.85. The stock’s fifty day moving average price is $28.88 and its 200 day moving average price is $24.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $422.26 million, a price-to-earnings ratio of 11.95 and a beta of 0.89.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, October 21st. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. The firm had revenue of $52.59 million for the quarter, compared to the consensus estimate of $38.30 million. On average, research analysts expect that Sierra Bancorp will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Julie G. Castle sold 1,235 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $29.36, for a total value of $36,259.60. Following the completion of the transaction, the director now owns 5,100 shares of the company’s stock, valued at $149,736. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Kevin J. Mcphaill sold 6,285 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $29.87, for a total value of $187,732.95. Following the completion of the transaction, the chief executive officer now owns 20,699 shares of the company’s stock, valued at $618,279.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie G. Castle sold 1,235 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $29.36, for a total value of $36,259.60. Following the completion of the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $149,736. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,278 shares of company stock valued at $934,134. 11.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

Several institutional investors and hedge funds have recently modified their holdings of BSRR. Foundry Partners LLC raised its holdings in Sierra Bancorp by 11.1% in the 1st quarter. Foundry Partners LLC now owns 150,415 shares of the financial services provider’s stock worth $3,038,000 after purchasing an additional 15,080 shares during the period. Assenagon Asset Management S.A. raised its holdings in Sierra Bancorp by 24.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 74,000 shares of the financial services provider’s stock worth $2,137,000 after purchasing an additional 14,335 shares during the period. Private Management Group Inc. raised its holdings in Sierra Bancorp by 1.2% in the 2nd quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock worth $14,707,000 after purchasing an additional 7,515 shares during the period. Vanguard Group Inc. raised its holdings in Sierra Bancorp by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock worth $13,737,000 after purchasing an additional 5,830 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Sierra Bancorp in the 3rd quarter worth about $142,000. 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.