DA Davidson Comments on Sierra Bancorp’s Q2 2024 Earnings (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Equities researchers at DA Davidson lowered their Q2 2024 earnings per share (EPS) estimates for shares of Sierra Bancorp in a research report issued on Thursday, June 27th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $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 brokerages have also recently commented on BSRR. Keefe, Bruyette & Woods decreased their price target on Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com raised Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Finally, Janney Montgomery Scott cut Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th.

Sierra Bancorp Stock Performance

NASDAQ:BSRR opened at $22.38 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.74. The business has a 50 day moving average of $21.04 and a 200 day moving average of $20.31. The company has a market capitalization of $326.75 million, a price-to-earnings ratio of 9.25 and a beta of 0.91. Sierra Bancorp has a 1-year low of $16.30 and a 1-year high of $23.21.

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

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in Sierra Bancorp by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 957 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Sierra Bancorp during the first quarter valued at $94,000. Bfsg LLC bought a new position in shares of Sierra Bancorp during the fourth quarter valued at $122,000. SG Americas Securities LLC lifted its holdings in shares of Sierra Bancorp by 16.0% during the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Sierra Bancorp during the fourth quarter valued at $280,000. 55.40% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Michael Olague sold 4,753 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 31,353 shares of the company’s stock, valued at $698,858.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.86% of the company’s stock.

Sierra Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $0.92 annualized dividend and a dividend yield of 4.11%. Sierra Bancorp’s dividend payout ratio (DPR) 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.