Sierra Bancorp (NASDAQ:BSRR) Price Target Cut to $23.00

Sierra Bancorp (NASDAQ:BSRR) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 21.50% from the company’s previous close.

Separately, Janney Montgomery Scott raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Sierra Bancorp Price Performance

BSRR opened at $18.93 on Tuesday. The company has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $19.51. The firm has a market cap of $277.32 million, a price-to-earnings ratio of 8.02 and a beta of 0.93. Sierra Bancorp has a twelve month low of $15.01 and a twelve month 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 released its quarterly 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). The firm had revenue of $50.49 million for the quarter, compared to analyst estimates of $35.15 million. Sierra Bancorp had a net margin of 18.01% and a return on equity of 11.03%. Equities research analysts expect that Sierra Bancorp will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in Sierra Bancorp during the 4th quarter worth $280,000. Dimensional Fund Advisors LP grew its holdings in Sierra Bancorp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock worth $22,474,000 after acquiring an additional 3,348 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Sierra Bancorp by 118.2% during the 4th 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 in the last quarter. Los Angeles Capital Management LLC grew its holdings in Sierra Bancorp by 20.0% during the 4th 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 in the last quarter. Finally, Bfsg LLC acquired a new position in Sierra Bancorp during the 4th quarter worth $122,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.