Sierra Bancorp (BSRR) PT Raised to $33 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Woody Lay raised the price target on Sierra Bancorp (NASDAQ: BSRR) to $33.00 (from $32.00) while maintaining a Market Perform rating.

The analyst commented: "3Q25 results were a miss on provision but PPNR trends were solid, beating by 4c/shr. The elevated provision was driven by specific reserves tied to an agricultural production credit already in NPA that is now fully reserved for. EOP loan growth remained strong at 9%, with the majority coming from mortgage warehouse. BSRR remained active in buybacks this quarter, repurchasing 1.4% of shares, and expects to remain active going forward. Expenses are a top focus for the company, with BSRR aiming for 2026 expenses to be flat y/y. We are increasing our '25E/'26E/'27E to $3.01/$3.42/$3.45 and our PT to $33. Rating is Market Perform."

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