FY2024 EPS Estimates for Sierra Bancorp Reduced by Analyst

Sierra Bancorp (NASDAQ:BSRR) – Research analysts at DA Davidson reduced their FY2024 EPS estimates for shares of Sierra Bancorp in a report issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $2.76 per share for the year, down from their prior estimate of $2.79. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.77 per share. DA Davidson also issued estimates for Sierra Bancorp’s Q4 2024 earnings at $0.72 EPS.

Sierra Bancorp (NASDAQ:BSRR) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $52.59 million during the quarter, compared to analyst estimates of $38.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%.

A number of other equities research analysts have also issued reports on the company. StockNews.com upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd.

Sierra Bancorp Stock Down 2.1 %

Shares of NASDAQ BSRR opened at $27.99 on Thursday. The stock has a fifty day moving average price of $28.89 and a 200 day moving average price of $24.87. The company has a market cap of $408.54 million, a P/E ratio of 11.57 and a beta of 0.89. Sierra Bancorp has a 12-month low of $16.75 and a 12-month high of $31.85. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Sierra Bancorp

Institutional investors have recently modified their holdings of the business. Panagora Asset Management Inc. boosted its position in Sierra Bancorp by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 904 shares during the period. Lazard Asset Management LLC grew its position 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 acquiring an additional 957 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Sierra Bancorp in the 3rd quarter worth about $29,000. Bank of New York Mellon Corp lifted its position in Sierra Bancorp by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock valued at $2,675,000 after purchasing an additional 3,531 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Sierra Bancorp during the 1st quarter valued at about $94,000. Institutional investors own 55.40% of the company’s stock.

Insider Buying and Selling at Sierra Bancorp

In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at $343,729.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total value of $292,600.00. Following the completion of the sale, the director now directly owns 475,060 shares of the company’s stock, valued at $13,900,255.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Olague sold 3,098 shares of Sierra Bancorp stock in a transaction that occurred 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 owns 12,409 shares of the company’s stock, valued at approximately $343,729.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,758 shares of company stock worth $710,142 in the last 90 days. 11.86% of the stock is owned by corporate insiders.

Sierra Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Thursday, October 31st. Sierra Bancorp’s dividend payout ratio is currently 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.