Keefe, Bruyette & Woods Has Lowered Expectations for Sierra Bancorp (NASDAQ:BSRR) Stock Price

Sierra Bancorp (NASDAQ:BSRR) had its target price lowered by stock analysts at Keefe, Bruyette & Woods from $32.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 16.50% from the company’s previous close.

BSRR has been the topic of a number of other reports. StockNews.com raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. DA Davidson lowered their target price on shares of Sierra Bancorp from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday.

Sierra Bancorp Stock Up 0.6 %

Shares of BSRR opened at $26.61 on Wednesday. The firm has a market cap of $368.02 million, a P/E ratio of 9.47 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.79. Sierra Bancorp has a 52 week low of $19.77 and a 52 week high of $35.13. The firm’s 50-day simple moving average is $27.43 and its 200 day simple moving average is $29.23.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, April 28th. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Sierra Bancorp had a return on equity of 11.55% and a net margin of 19.90%. The firm had revenue of $36.75 million for the quarter, compared to the consensus estimate of $37.51 million. On average, analysts forecast that Sierra Bancorp will post 2.95 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michael Olague sold 3,563 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $31.15, for a total transaction of $110,987.45. Following the completion of the sale, the executive vice president now owns 12,409 shares of the company’s stock, valued at approximately $386,540.35. This represents a 22.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Julie G. Castle sold 1,104 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $32.00, for a total transaction of $35,328.00. Following the sale, the director now owns 4,157 shares in the company, valued at $133,024. This represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,393 shares of company stock valued at $166,994 over the last quarter. 11.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Tennessee Department of Treasury bought a new position in Sierra Bancorp in the fourth quarter valued at about $137,000. CWM LLC boosted its stake in shares of Sierra Bancorp by 15.1% in the 1st quarter. CWM LLC now owns 4,920 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 647 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Sierra Bancorp by 20.3% during the 4th quarter. SG Americas Securities LLC now owns 5,903 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 997 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in Sierra Bancorp during the 4th quarter worth approximately $202,000. Finally, Franklin Resources Inc. bought a new position in Sierra Bancorp in the 3rd quarter valued at approximately $216,000. Institutional investors own 55.40% of the company’s stock.

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.