Q3 2024 Earnings Estimate for Sierra Bancorp (NASDAQ:BSRR) Issued By DA Davidson

Sierra Bancorp (NASDAQ:BSRR) – Stock analysts at DA Davidson issued their Q3 2024 earnings estimates for shares of Sierra Bancorp in a note issued to investors on Tuesday, July 23rd. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $0.76 per share for the quarter. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.58 per share. DA Davidson also issued estimates for Sierra Bancorp’s FY2024 earnings at $2.84 EPS.

A number of other research analysts also recently commented on BSRR. StockNews.com raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Janney Montgomery Scott downgraded shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th.

Sierra Bancorp Stock Performance

Sierra Bancorp stock opened at $30.16 on Wednesday. The firm’s 50 day simple moving average is $22.37 and its 200-day simple moving average is $20.63. Sierra Bancorp has a fifty-two week low of $16.75 and a fifty-two week high of $31.85. The company has a market cap of $440.34 million, a P/E ratio of 12.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.74.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The business 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 10.82%.

Hedge Funds Weigh In On Sierra Bancorp

Several large investors have recently bought and sold shares of BSRR. Lazard Asset Management LLC increased its holdings in 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 valued at $61,000 after buying an additional 957 shares during the period. Acadian Asset Management LLC bought a new stake in Sierra Bancorp in the 1st quarter valued at $94,000. Vanguard Group Inc. increased its holdings in Sierra Bancorp by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock valued at $13,737,000 after buying an additional 5,830 shares during the period. Foundry Partners LLC increased its holdings in Sierra Bancorp by 11.1% in the 1st quarter. Foundry Partners LLC now owns 150,415 shares of the financial services provider’s stock valued at $3,038,000 after buying an additional 15,080 shares during the period. Finally, Empowered Funds LLC increased its holdings in Sierra Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 4,900 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sierra Bancorp

In other news, EVP Michael Olague sold 4,753 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $22.29, for a total value of $105,944.37. Following the completion of the sale, the executive vice president now directly owns 31,353 shares in the company, valued at $698,858.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.86% of the stock is owned by corporate insiders.

Sierra Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.18%. This is a boost from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, July 31st. Sierra Bancorp’s payout ratio is presently 38.02%.

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.