Sierra Bancorp to Post FY2024 Earnings of $2.79 Per Share, DA Davidson Forecasts (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Equities research analysts at DA Davidson dropped their FY2024 EPS estimates for Sierra Bancorp in a research report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $2.79 for the year, down from their previous forecast of $2.84. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.76 per share. DA Davidson also issued estimates for Sierra Bancorp’s FY2025 earnings at $2.63 EPS.

Sierra Bancorp (NASDAQ:BSRR) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $51.13 million during the quarter, compared to analysts’ expectations of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%.

Several other analysts have also weighed in on BSRR. StockNews.com lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd.

Sierra Bancorp Stock Performance

BSRR opened at $27.32 on Monday. The stock’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $24.05. The stock has a market cap of $398.76 million, a P/E ratio of 11.29 and a beta of 0.89. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $31.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76.

Sierra Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.24 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 3.51%. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.23. Sierra Bancorp’s dividend payout ratio is presently 39.67%.

Insider Activity at Sierra Bancorp

In other news, EVP Michael Olague sold 3,098 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.70, for a total value of $85,814.60. Following the completion of the transaction, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at $343,729.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the sale, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at $343,729.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Morris A. Tharp sold 10,000 shares of Sierra Bancorp stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total transaction of $292,600.00. Following the sale, the director now owns 475,060 shares of the company’s stock, valued at approximately $13,900,255.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,366 shares of company stock valued at $1,370,158. 11.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in shares of Sierra Bancorp by 45.7% during the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 957 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Sierra Bancorp during the first quarter worth about $94,000. SG Americas Securities LLC purchased a new position in Sierra Bancorp during the third quarter worth about $142,000. Panagora Asset Management Inc. boosted its stake in Sierra Bancorp by 8.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after buying an additional 904 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Sierra Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 4,900 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.