Sierra Bancorp (NASDAQ:BSRR) Stock Rating Upgraded by StockNews.com

Sierra Bancorp (NASDAQ:BSRR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Sierra Bancorp from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Sierra Bancorp Trading Down 3.1 %

Sierra Bancorp stock traded down $0.88 during midday trading on Monday, hitting $27.68. 57,711 shares of the stock were exchanged, compared to its average volume of 47,065. Sierra Bancorp has a fifty-two week low of $17.69 and a fifty-two week high of $35.13. The stock has a market capitalization of $386.52 million, a price-to-earnings ratio of 9.85 and a beta of 0.89. The stock’s 50-day simple moving average is $29.86 and its 200 day simple moving average is $29.84. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. Sierra Bancorp had a net margin of 19.90% and a return on equity of 11.55%. On average, equities analysts anticipate that Sierra Bancorp will post 2.95 EPS for the current year.

Insider Activity at Sierra Bancorp

In related news, Director Julie G. Castle sold 1,104 shares of Sierra Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.00, for a total value of $35,328.00. Following the completion of the transaction, the director now owns 4,157 shares in the company, valued at approximately $133,024. The trade was a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Olague sold 3,563 shares of Sierra Bancorp 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 transaction, the executive vice president now owns 12,409 shares of the company’s stock, valued at $386,540.35. This trade represents a 22.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,668 shares of company stock worth $146,346. Corporate insiders own 11.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BSRR. Zacks Investment Management purchased a new stake in shares of Sierra Bancorp during the 3rd quarter worth approximately $2,818,000. Segall Bryant & Hamill LLC purchased a new stake in Sierra Bancorp in the 3rd quarter valued at $1,146,000. Foundry Partners LLC raised its position in Sierra Bancorp by 19.2% in the 3rd quarter. Foundry Partners LLC now owns 176,985 shares of the financial services provider’s stock valued at $5,111,000 after purchasing an additional 28,495 shares during the last quarter. Millennium Management LLC raised its position in Sierra Bancorp by 301.4% in the 4th quarter. Millennium Management LLC now owns 37,858 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 28,426 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Sierra Bancorp by 36.1% in the 4th quarter. JPMorgan Chase & Co. now owns 89,616 shares of the financial services provider’s stock valued at $2,592,000 after purchasing an additional 23,758 shares during the last quarter. Hedge funds and other 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.