Sierra Bancorp (NASDAQ:BSRR) to Post FY2024 Earnings of $2.52 Per Share, DA Davidson Forecasts

Sierra Bancorp (NASDAQ:BSRR) – Equities research analysts at DA Davidson cut their FY2024 earnings estimates for Sierra Bancorp in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $2.52 per share for the year, down from their previous forecast of $2.67. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.45 per share.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Tuesday. Janney Montgomery Scott raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and cut their target price for the company from $24.00 to $23.00 in a research note on Tuesday.

Sierra Bancorp Stock Performance

Shares of NASDAQ BSRR opened at $20.50 on Thursday. The stock’s fifty day simple moving average is $18.79 and its 200 day simple moving average is $19.54. The stock has a market capitalization of $300.33 million, a price-to-earnings ratio of 8.44 and a beta of 0.93. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sierra Bancorp has a 52-week low of $15.01 and a 52-week high of $23.21.

Sierra Bancorp (NASDAQ:BSRR) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.26). Sierra Bancorp had a net margin of 17.80% and a return on equity of 11.11%. The firm had revenue of $50.49 million for the quarter, compared to the consensus estimate of $35.15 million.

Sierra Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Tuesday, April 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.92 annualized dividend and a dividend yield of 4.49%. Sierra Bancorp’s dividend payout ratio is presently 38.02%.

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew 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 buying an additional 3,348 shares in the last quarter. Private Management Group Inc. raised its holdings in shares of Sierra Bancorp by 4.0% in the 3rd quarter. Private Management Group Inc. now owns 653,714 shares of the financial services provider’s stock worth $12,394,000 after buying an additional 25,256 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Sierra Bancorp by 15.6% in the first quarter. Assenagon Asset Management S.A. now owns 77,645 shares of the financial services provider’s stock valued at $1,568,000 after acquiring an additional 10,496 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Sierra Bancorp by 20.0% in the 4th 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. Finally, BNP Paribas Financial Markets boosted its position in Sierra Bancorp by 118.2% in the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after buying an additional 8,243 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

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.