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

Sierra Bancorp (NASDAQ:BSRR) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports. The brokerage presently has a $23.00 target price on the financial services provider’s stock, down from their prior target price of $24.00. Janney Montgomery Scott’s target price would suggest a potential upside of 10.05% from the stock’s previous close.

Sierra Bancorp Stock Performance

Shares of BSRR opened at $20.90 on Tuesday. Sierra Bancorp has a 1 year low of $15.01 and a 1 year high of $23.21. The company has a market cap of $306.19 million, a price-to-earnings ratio of 8.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a fifty day moving average of $18.73 and a 200-day moving average of $19.52.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $35.15 million. Sierra Bancorp had a return on equity of 11.11% and a net margin of 17.80%. As a group, equities analysts anticipate that Sierra Bancorp will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On Sierra Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Sierra Bancorp by 16.0% in the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 1,012 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Sierra Bancorp by 2.1% during the third 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 3,348 shares in the last quarter. Bfsg LLC purchased a new stake in Sierra Bancorp during the fourth quarter valued at about $122,000. Finally, Los Angeles Capital Management LLC lifted its stake in 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 valued at $984,000 after buying an additional 7,260 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

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.