Sierra Bancorp (NASDAQ:BSRR) Given New $36.00 Price Target at DA Davidson

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) had its price objective cut by stock analysts at DA Davidson from $37.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's target price points to a potential upside of 36.31% from the stock's previous close.

Separately, StockNews.com raised shares of Sierra Bancorp from a "hold" rating to a "buy" rating in a report on Thursday, April 24th.

Sierra Bancorp Trading Up 0.6 %

Shares of Sierra Bancorp stock opened at $26.41 on Tuesday. Sierra Bancorp has a 52-week low of $19.77 and a 52-week high of $35.13. The firm has a market capitalization of $365.25 million, a PE ratio of 9.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.79 and a quick ratio of 0.79. The company's fifty day moving average price is $27.63 and its two-hundred day moving average price is $29.27.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted 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 net margin of 19.90% and a return on equity of 11.55%. The business had revenue of $36.75 million during the quarter, compared to the consensus estimate of $37.51 million. On average, analysts expect that Sierra Bancorp will post 2.95 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michael Olague sold 3,563 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $31.15, for a total transaction of $110,987.45. Following the transaction, the executive vice president now owns 12,409 shares in the company, valued at $386,540.35. This represents a 22.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie G. Castle sold 1,104 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.00, for a total transaction of $35,328.00. Following the completion of the sale, the director now owns 4,157 shares of the company's stock, valued at $133,024. The trade was a 20.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,393 shares of company stock valued at $166,994. 11.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BSRR. Bridgeway Capital Management LLC raised its position in shares of Sierra Bancorp by 2.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 131,761 shares of the financial services provider's stock worth $3,811,000 after acquiring an additional 3,767 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Sierra Bancorp by 3.9% in the 4th quarter. American Century Companies Inc. now owns 126,905 shares of the financial services provider's stock valued at $3,670,000 after purchasing an additional 4,794 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sierra Bancorp by 36.1% during the fourth quarter. JPMorgan Chase & Co. now owns 89,616 shares of the financial services provider's stock worth $2,592,000 after buying an additional 23,758 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Sierra Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 78,761 shares of the financial services provider's stock valued at $2,278,000 after purchasing an additional 3,767 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Sierra Bancorp by 7.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 56,701 shares of the financial services provider's stock worth $1,640,000 after purchasing an additional 4,035 shares during the last quarter. Institutional investors and hedge funds 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.

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