Sierra Bancorp (NASDAQ:BSRR) to Issue $0.24 Quarterly Dividend

Sierra Bancorp (NASDAQ:BSRR) announced a quarterly dividend on Friday, October 18th, Zacks reports. Shareholders of record on Thursday, October 31st will be given a dividend of 0.24 per share by the financial services provider on Tuesday, November 12th. This represents a $0.96 annualized dividend and a yield of 3.23%. The ex-dividend date is Thursday, October 31st.

Sierra Bancorp has increased its dividend by an average of 4.8% per year over the last three years. Sierra Bancorp has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sierra Bancorp to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 36.4%.

Sierra Bancorp Stock Performance

Sierra Bancorp stock opened at $29.75 on Friday. Sierra Bancorp has a 52 week low of $16.75 and a 52 week 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. The stock has a market cap of $434.23 million, a P/E ratio of 12.29 and a beta of 0.89. The stock has a 50 day moving average of $28.83 and a 200-day moving average of $24.55.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 17.77% and a return on equity of 10.66%. On average, analysts expect that Sierra Bancorp will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BSRR has been the subject of several research analyst reports. StockNews.com lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price target on Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd.

Insider Activity

In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total value of $85,814.60. Following the transaction, the executive vice president now owns 12,409 shares of the company’s stock, valued at $343,729.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Julie G. Castle sold 1,235 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $29.36, for a total value of $36,259.60. Following the sale, the director now owns 5,100 shares of the company’s stock, valued at $149,736. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Olague sold 3,098 shares of Sierra Bancorp stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the completion of the sale, the executive vice president now owns 12,409 shares in the company, valued at approximately $343,729.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,366 shares of company stock valued at $1,370,158. Company insiders own 11.86% of the company’s stock.

Sierra Bancorp Company Profile

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.