Sierra Bancorp (NASDAQ:BSRR) Forecasted to Earn Q2 2024 Earnings of $0.64 Per Share

Sierra Bancorp (NASDAQ:BSRR) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for Sierra Bancorp in a report released on Tuesday, April 23rd. DA Davidson analyst G. Tenner forecasts that the financial services provider will earn $0.64 per share for the quarter. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.33 per share. DA Davidson also issued estimates for Sierra Bancorp’s FY2025 earnings at $2.58 EPS.

BSRR has been the topic of several other reports. Keefe, Bruyette & Woods decreased their price objective on shares of Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Tuesday. Janney Montgomery Scott raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $24.00 to $23.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Sierra Bancorp Stock Performance

Shares of NASDAQ BSRR opened at $19.96 on Wednesday. The company’s fifty day moving average price is $18.69 and its 200 day moving average price is $19.51. Sierra Bancorp has a 1 year low of $15.01 and a 1 year high of $23.21. The company has a market capitalization of $292.37 million, a PE ratio of 8.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Sierra Bancorp had a return on equity of 11.03% and a net margin of 18.01%. The firm had revenue of $50.49 million for the quarter, compared to analysts’ expectations of $35.15 million.

Institutional Investors Weigh In On Sierra Bancorp

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its position in Sierra Bancorp by 16.0% during the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,012 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Sierra Bancorp by 2.1% during the third quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 1,095 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sierra Bancorp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock worth $22,474,000 after purchasing an additional 3,348 shares during the last quarter. Bfsg LLC acquired a new stake in Sierra Bancorp during the fourth quarter worth about $122,000. Finally, Los Angeles Capital Management LLC increased its position in Sierra Bancorp by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 7,260 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Sierra Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, April 29th. Sierra Bancorp’s dividend payout ratio (DPR) is 38.98%.

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.