Sierra Bancorp (NASDAQ:BSRR) to Post Q3 2024 Earnings of $0.75 Per Share, DA Davidson Forecasts

Sierra Bancorp (NASDAQ:BSRR) – Investment analysts at DA Davidson cut their Q3 2024 earnings estimates for Sierra Bancorp in a report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.76 per share.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $51.13 million for the quarter, compared to the consensus estimate of $36.30 million. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%.

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

Sierra Bancorp Price Performance

Sierra Bancorp stock opened at $27.45 on Friday. The stock’s 50 day moving average is $28.75 and its 200 day moving average is $23.85. Sierra Bancorp has a one year low of $16.75 and a one year high of $31.85. The firm has a market cap of $400.66 million, a P/E ratio of 11.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76.

Institutional Investors Weigh In On Sierra Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Sierra Bancorp in the 3rd quarter valued at $142,000. Private Management Group Inc. lifted its stake in shares of Sierra Bancorp by 1.2% in the second quarter. Private Management Group Inc. now owns 657,147 shares of the financial services provider’s stock valued at $14,707,000 after buying an additional 7,515 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after buying an additional 904 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Sierra Bancorp by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after acquiring an additional 3,531 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Sierra Bancorp by 45.7% in the 1st 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 during the last quarter. Institutional investors own 55.40% of the company’s stock.

Insider Buying and Selling at Sierra Bancorp

In other news, EVP Michael Olague sold 14,088 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $30.95, for a total transaction of $436,023.60. Following the completion of the sale, the executive vice president now owns 17,265 shares of the company’s stock, valued at approximately $534,351.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Kevin J. Mcphaill sold 6,285 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $29.87, for a total value of $187,732.95. Following the completion of the sale, the chief executive officer now directly owns 20,699 shares of the company’s stock, valued at approximately $618,279.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Olague sold 14,088 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $30.95, for a total value of $436,023.60. Following the completion of the transaction, the executive vice president now owns 17,265 shares in the company, valued at approximately $534,351.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,366 shares of company stock valued at $1,370,158. 11.86% of the stock is currently owned by company insiders.

Sierra Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.24 dividend. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Wednesday, July 31st. Sierra Bancorp’s payout ratio is presently 39.67%.

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.