DA Davidson Analysts Cut Earnings Estimates for Sierra Bancorp (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Equities researchers at DA Davidson reduced their Q2 2024 earnings per share estimates for shares of Sierra Bancorp in a research note issued on Thursday, June 27th. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $0.62 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.45 per share.

A number of other equities research analysts also recently issued reports on the company. Janney Montgomery Scott downgraded Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. StockNews.com upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Tuesday, April 23rd.

Sierra Bancorp Stock Performance

Shares of NASDAQ:BSRR opened at $22.24 on Monday. Sierra Bancorp has a 12-month low of $16.30 and a 12-month high of $23.21. The company’s 50 day moving average price is $21.10 and its two-hundred day moving average price is $20.31. The firm has a market cap of $324.70 million, a PE ratio of 9.19 and a beta of 0.91. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.25.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Sierra Bancorp had a net margin of 17.80% and a return on equity of 10.89%. The business had revenue of $37.31 million for the quarter, compared to the consensus estimate of $34.90 million.

Hedge Funds Weigh In On Sierra Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in shares of Sierra Bancorp by 27.1% during the fourth 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 in the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the 4th quarter worth about $280,000. Dimensional Fund Advisors LP increased its holdings in Sierra Bancorp by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock worth $22,474,000 after purchasing an additional 3,348 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Sierra Bancorp by 118.2% during the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 8,243 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Sierra Bancorp by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 7,260 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Insider Activity

In related news, EVP Michael Olague sold 4,753 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $22.29, for a total transaction of $105,944.37. Following the completion of the sale, the executive vice president now directly owns 31,353 shares in the company, valued at approximately $698,858.37. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 11.63% of the company’s stock.

Sierra Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Monday, April 29th. Sierra Bancorp’s dividend payout ratio is presently 38.02%.

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.