Sierra Bancorp (NASDAQ:BSRR) Posts Earnings Results, Misses Expectations By $0.12 EPS

Sierra Bancorp (NASDAQ:BSRRGet Free Report) released its earnings results on Monday. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12), Zacks reports. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%.

Sierra Bancorp Price Performance

BSRR opened at $38.63 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $505.28 million, a P/E ratio of 11.26 and a beta of 0.76. The stock has a 50-day moving average price of $40.00 and a 200-day moving average price of $37.05. Sierra Bancorp has a 12-month low of $26.49 and a 12-month high of $43.13.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.8%. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, August 3rd. Sierra Bancorp’s dividend payout ratio is presently 30.32%.

Analysts Set New Price Targets

BSRR has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Sierra Bancorp in a research report on Wednesday, June 24th. Piper Sandler lowered their price objective on shares of Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Zacks Research cut shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, DA Davidson reissued a “buy” rating and set a $44.00 target price on shares of Sierra Bancorp in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.00.

View Our Latest Research Report on Sierra Bancorp

Insider Activity at Sierra Bancorp

In related news, CFO Christopher G. Treece sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $381,800.00. Following the completion of the sale, the chief financial officer owned 39,095 shares in the company, valued at $1,492,647.10. The trade was a 20.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Hugh F. Boyle sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $38.21, for a total value of $382,100.00. Following the completion of the sale, the executive vice president directly owned 21,781 shares of the company’s stock, valued at approximately $832,252.01. This represents a 31.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 25,000 shares of company stock valued at $954,108. Corporate insiders own 11.83% of the company’s stock.

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors have recently made changes to their positions in BSRR. Lazard Asset Management LLC raised its position in Sierra Bancorp by 13.4% in the 2nd quarter. Lazard Asset Management LLC now owns 12,777 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 1,509 shares during the period. Fourthstone LLC bought a new position in shares of Sierra Bancorp during the fourth quarter valued at about $367,000. Quantinno Capital Management LP increased its holdings in shares of Sierra Bancorp by 34.2% in the second quarter. Quantinno Capital Management LP now owns 11,359 shares of the financial services provider’s stock worth $337,000 after buying an additional 2,894 shares during the period. Franklin Resources Inc. increased its holdings in shares of Sierra Bancorp by 6.9% in the fourth quarter. Franklin Resources Inc. now owns 10,240 shares of the financial services provider’s stock worth $335,000 after buying an additional 662 shares during the period. Finally, Corient Private Wealth LLC bought a new stake in shares of Sierra Bancorp in the 2nd quarter valued at about $320,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

About Sierra Bancorp

(Get Free Report)

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.

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Earnings History for Sierra Bancorp (NASDAQ:BSRR)

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