Sierra Bancorp (NASDAQ:BSRR) PT Lowered to $23.00 at Keefe, Bruyette & Woods

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

Separately, Janney Montgomery Scott upgraded shares of Sierra Bancorp from a neutral rating to a buy rating and lowered their target price for the stock from $24.00 to $23.00 in a report on Tuesday.

Sierra Bancorp Trading Down 2.3 %

Shares of NASDAQ:BSRR opened at $20.42 on Tuesday. The company’s 50-day moving average price is $18.77 and its two-hundred day moving average price is $19.53. Sierra Bancorp has a one year low of $15.01 and a one year high of $23.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $299.15 million, a PE ratio of 8.50 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.26). The company had revenue of $50.49 million for the quarter, compared to the consensus estimate of $35.15 million. Sierra Bancorp had a return on equity of 11.11% and a net margin of 17.80%. On average, equities analysts forecast 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. Shareholders of record on Tuesday, April 30th will be paid a $0.23 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.92 annualized dividend and a yield of 4.51%. Sierra Bancorp’s dividend payout ratio is 38.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in Sierra Bancorp during the 3rd quarter valued at $689,000. Private Management Group Inc. lifted its stake in shares of Sierra Bancorp by 4.0% during the 3rd quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after buying an additional 25,256 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Sierra Bancorp by 27.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 67,149 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 14,320 shares during the period. Trexquant Investment LP acquired a new position in Sierra Bancorp in the 4th quarter valued at about $280,000. Finally, BNP Paribas Financial Markets raised its holdings in Sierra Bancorp by 118.2% in the 4th quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 8,243 shares during the period. 55.40% of the stock is currently owned by institutional investors.

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.