Sierra Bancorp price target lowered to $36 from $37 at DA Davidson

DA Davidson analyst Gary Tenner lowered the firm’s price target on Sierra Bancorp (BSRR) to $36 from $37 and keeps a Buy rating on the shares. The company had a solid overall quarter and remains confident in growing loans in both mortgage warehouse, and traditional commercial real estate and C&I segments, the analyst tells investors in a research note. DA Davidson adds that it anticipates further net interest margin expansion in the second quarter with positive ROA momentum through the year.