Sierra Bancorp (NASDAQ:BSRR) PT Lowered to $28.00

Sierra Bancorp (NASDAQ:BSRR – Get Rating) had its price target decreased by analysts at Raymond James from $30.00 to $28.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target indicates a potential upside of 21.21% from the company’s current price.

Several other equities analysts have also weighed in on the company. StockNews.com started coverage on Sierra Bancorp in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Thursday, March 31st. Finally, Janney Montgomery Scott lowered Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 25th.

NASDAQ:BSRR opened at $23.10 on Tuesday. Sierra Bancorp has a 12 month low of $22.40 and a 12 month high of $28.92. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $25.45 and its 200 day moving average is $26.09. The company has a market capitalization of $348.49 million, a P/E ratio of 8.25 and a beta of 1.10.

Sierra Bancorp (NASDAQ:BSRR – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.11). Sierra Bancorp had a net margin of 30.47% and a return on equity of 12.01%. On average, research analysts forecast that Sierra Bancorp will post 2.57 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Deutsche Bank AG boosted its holdings in Sierra Bancorp by 3.2% in the 4th quarter. Deutsche Bank AG now owns 14,071 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 437 shares during the period. Citigroup Inc. lifted its holdings in Sierra Bancorp by 42.1% in the third quarter. Citigroup Inc. now owns 1,630 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Sierra Bancorp by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,338 shares of the financial services provider’s stock valued at $987,000 after purchasing an additional 724 shares during the period. Metropolitan Life Insurance Co NY grew its position in shares of Sierra Bancorp by 40.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,681 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Sierra Bancorp by 8.0% in the second quarter. Invesco Ltd. now owns 15,859 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 1,174 shares during the period. 53.30% of the stock is owned by hedge funds and other institutional investors.

About Sierra Bancorp (Get Rating)

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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

Further Reading