Sierra Bancorp (NASDAQ:BSRR) PT Raised to $29.00 at Keefe, Bruyette & Woods

Sierra Bancorp (NASDAQ:BSRR) had its price objective hoisted by Keefe, Bruyette & Woods from $23.00 to $29.00 in a report released on Tuesday, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Several other research firms also recently weighed in on BSRR. StockNews.com downgraded Sierra Bancorp from a buy rating to a hold rating in a research note on Thursday, July 4th. Janney Montgomery Scott downgraded Sierra Bancorp from a buy rating to a neutral rating in a report on Wednesday, May 15th.

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $30.16 on Tuesday. The company’s fifty day moving average price is $22.37 and its 200-day moving average price is $20.63. The stock has a market cap of $440.34 million, a PE ratio of 12.46 and a beta of 0.91. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.25. Sierra Bancorp has a 12 month low of $16.75 and a 12 month high of $31.85.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.82%. The business had revenue of $51.13 million for the quarter, compared to analyst estimates of $36.30 million. On average, equities analysts expect that Sierra Bancorp will post 2.58 EPS for the current fiscal year.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.24 per share. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.18%. Sierra Bancorp’s dividend payout ratio is presently 38.02%.

Insider Activity at Sierra Bancorp

In related news, EVP Michael Olague sold 4,753 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $22.29, for a total value of $105,944.37. Following the transaction, the executive vice president now directly owns 31,353 shares of the company’s stock, valued at approximately $698,858.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC raised its stake in Sierra Bancorp by 45.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock valued at $61,000 after buying an additional 957 shares during the last quarter. SG Americas Securities LLC increased 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 buying an additional 1,012 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $22,474,000 after buying an additional 3,348 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Sierra Bancorp in the first quarter worth about $94,000. Finally, Empowered Funds LLC lifted its position in shares of Sierra Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 4,900 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.