Sierra Bancorp (NASDAQ:BSRR) Releases Earnings Results, Beats Estimates By $0.11 EPS

Sierra Bancorp (NASDAQ:BSRR) released its quarterly earnings data on Monday. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11, Yahoo Finance reports. The company 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 10.82% and a net margin of 17.77%.

Sierra Bancorp Stock Up 4.2 %

BSRR traded up $1.28 during mid-day trading on Thursday, reaching $31.48. 26,044 shares of the stock were exchanged, compared to its average volume of 28,443. The company has a 50 day moving average price of $22.37 and a two-hundred day moving average price of $20.63. The stock has a market capitalization of $459.61 million, a PE ratio of 12.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74 and a current ratio of 0.74. Sierra Bancorp has a 1 year low of $16.75 and a 1 year high of $31.85.

Sierra Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.24 dividend. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, July 31st. Sierra Bancorp’s dividend payout ratio is presently 38.02%.

Insider Activity at Sierra Bancorp

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 value of $105,944.37. Following the transaction, the executive vice president now owns 31,353 shares in the company, valued at approximately $698,858.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on BSRR. Janney Montgomery Scott downgraded Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. StockNews.com upgraded shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted 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.

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.