Q2 2024 EPS Estimates for Sierra Bancorp (NASDAQ:BSRR) Lowered by Analyst

Sierra Bancorp (NASDAQ:BSRR) – Investment analysts at DA Davidson dropped their Q2 2024 earnings per share (EPS) estimates for Sierra Bancorp in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.62 for the quarter, down from their prior estimate of $0.64. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.45 per share.

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

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

Sierra Bancorp Price Performance

Shares of Sierra Bancorp stock opened at $22.53 on Monday. Sierra Bancorp has a twelve month low of $16.30 and a twelve month high of $23.21. The stock has a market capitalization of $328.94 million, a P/E ratio of 9.31 and a beta of 0.91. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $21.16 and its 200 day moving average price is $20.32.

Sierra Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.08%. The ex-dividend date was Monday, April 29th. Sierra Bancorp’s dividend payout ratio (DPR) is presently 38.02%.

Insider Transactions at Sierra Bancorp

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

Institutional Trading of Sierra Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in Sierra Bancorp by 27.1% in 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 purchasing an additional 14,320 shares in the last quarter. Trexquant Investment LP acquired a new position in Sierra Bancorp in the fourth quarter worth about $280,000. Dimensional Fund Advisors LP grew its stake in Sierra Bancorp by 0.3% in the fourth 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 grew its stake in Sierra Bancorp by 118.2% in the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 8,243 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Sierra Bancorp by 20.0% in 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 in the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.