Sierra Bancorp (NASDAQ:BSRR) Price Target Cut to $23.00 by Analysts at Keefe, Bruyette & Woods

Sierra Bancorp (NASDAQ:BSRR - Free Report) had its price objective lowered by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider's stock.

Separately, Janney Montgomery Scott raised Sierra Bancorp from a neutral rating to a buy rating and cut their price target for the stock from $24.00 to $23.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $22.33.

Sierra Bancorp Stock Performance

NASDAQ BSRR traded up $1.03 on Tuesday, hitting $19.96. 23,794 shares of the stock traded hands, compared to its average volume of 27,086. Sierra Bancorp has a 12 month low of $15.01 and a 12 month high of $23.21. The business's fifty day moving average is $18.69 and its two-hundred day moving average is $19.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $292.37 million, a price-to-earnings ratio of 8.46 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.26). Sierra Bancorp had a return on equity of 11.03% and a net margin of 18.01%. The company had revenue of $50.49 million during the quarter, compared to the consensus estimate of $35.15 million. As a group, equities analysts anticipate that Sierra Bancorp will post 2.33 EPS for the current fiscal year.

Sierra Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Tuesday, April 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.61%. Sierra Bancorp's dividend payout ratio (DPR) is presently 38.98%.

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP purchased a new stake in Sierra Bancorp during the fourth quarter valued at about $280,000. Dimensional Fund Advisors LP raised its position in Sierra Bancorp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider's stock valued at $22,474,000 after purchasing an additional 3,348 shares in the last quarter. BNP Paribas Financial Markets raised its position in Sierra Bancorp by 118.2% during the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider's stock valued at $343,000 after purchasing an additional 8,243 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Sierra Bancorp by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider's stock valued at $984,000 after purchasing an additional 7,260 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in Sierra Bancorp during the fourth quarter valued at about $122,000. 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.