Sierra Bancorp (NASDAQ:BSRR) Earns “Buy” Rating from DA Davidson

Sierra Bancorp (NASDAQ:BSRR)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $44.00 price target on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 18.26% from the company’s previous close.

BSRR has been the topic of a number of other research reports. Zacks Research cut Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research note on Friday, March 27th. Finally, Piper Sandler reduced their price objective on shares of Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sierra Bancorp currently has an average rating of “Hold” and an average target price of $37.00.

Sierra Bancorp Stock Up 0.3%

BSRR traded up $0.13 on Tuesday, reaching $37.21. The company’s stock had a trading volume of 20,945 shares, compared to its average volume of 61,666. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day moving average is $35.01 and its 200 day moving average is $33.21. The stock has a market cap of $487.13 million, a price-to-earnings ratio of 11.92 and a beta of 0.77. Sierra Bancorp has a 1 year low of $25.88 and a 1 year high of $38.60.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.14. Sierra Bancorp had a net margin of 20.96% and a return on equity of 11.82%. The firm had revenue of $38.58 million during the quarter, compared to analyst estimates of $39.68 million. As a group, research analysts forecast that Sierra Bancorp will post 3.56 EPS for the current fiscal year.

Insider Transactions at Sierra Bancorp

In other Sierra Bancorp news, Director Julie G. Castle sold 750 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $37.93, for a total value of $28,447.50. Following the completion of the sale, the director owned 2,431 shares in the company, valued at approximately $92,207.83. This trade represents a 23.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Holly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $37.93, for a total transaction of $189,650.00. Following the completion of the transaction, the director owned 302,970 shares of the company’s stock, valued at $11,491,652.10. This trade represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $227,478. 11.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Sierra Bancorp by 71.6% in the first quarter. AQR Capital Management LLC now owns 24,072 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 10,046 shares during the last quarter. Jane Street Group LLC purchased a new stake in Sierra Bancorp during the 1st quarter valued at about $784,000. Rhumbline Advisers increased its stake in Sierra Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 19,859 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 527 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Sierra Bancorp by 3.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 60,262 shares of the financial services provider’s stock valued at $1,789,000 after purchasing an additional 1,744 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Sierra Bancorp by 13.6% in the second quarter. Invesco Ltd. now owns 9,852 shares of the financial services provider’s stock worth $293,000 after buying an additional 1,177 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Sierra Bancorp Company Profile

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.