Sierra Bancorp (NASDAQ:BSRR) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Sierra Bancorp (NASDAQ:BSRR) issued its quarterly earnings results on Sunday. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05), MarketWatch Earnings reports. Sierra Bancorp had a return on equity of 11.06% and a net margin of 26.64%.

Shares of Sierra Bancorp stock traded down $0.80 during trading on Tuesday, reaching $23.08. The company’s stock had a trading volume of 2,158 shares, compared to its average volume of 30,396. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The company has a market cap of $354.49 million, a price-to-earnings ratio of 10.29 and a beta of 1.14. Sierra Bancorp has a 1-year low of $13.05 and a 1-year high of $28.16. The company has a 50-day simple moving average of $24.37 and a two-hundred day simple moving average of $20.40.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 29th will be given a $0.21 dividend. The ex-dividend date is Thursday, January 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.64%. Sierra Bancorp’s payout ratio is 34.33%.

Several equities research analysts have recently weighed in on BSRR shares. TheStreet upgraded Sierra Bancorp from a “c” rating to a “b-” rating in a report on Friday, October 23rd. Zacks Investment Research upgraded Sierra Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, October 21st. Raymond James increased their price target on Sierra Bancorp from $21.50 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday. Piper Sandler reduced their price objective on Sierra Bancorp from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Finally, Janney Montgomery Scott upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $22.00.

In other Sierra Bancorp news, EVP Michael Olague sold 2,000 shares of Sierra Bancorp stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $23.30, for a total transaction of $46,600.00. Following the completion of the sale, the executive vice president now owns 39,447 shares of the company’s stock, valued at approximately $919,115.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Holly sold 3,781 shares of Sierra Bancorp stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $21.90, for a total value of $82,803.90. Following the sale, the director now directly owns 380,257 shares of the company’s stock, valued at approximately $8,327,628.30. The disclosure for this sale can be found here. Insiders sold a total of 7,588 shares of company stock valued at $168,692 in the last three months. Insiders own 10.34% 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. The company accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.

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