FY2024 EPS Estimates for Sierra Bancorp Cut by DA Davidson (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Analysts at DA Davidson lowered their FY2024 EPS estimates for Sierra Bancorp in a note issued to investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $2.79 per share for the year, down from their prior estimate of $2.84. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.76 per share. DA Davidson also issued estimates for Sierra Bancorp’s FY2025 earnings at $2.63 EPS.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Sierra Bancorp Trading Up 0.7 %

BSRR opened at $27.51 on Monday. The stock has a market capitalization of $401.54 million, a PE ratio of 11.37 and a beta of 0.89. Sierra Bancorp has a one year low of $16.75 and a one year high of $31.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50 day moving average price is $28.64 and its 200 day moving average price is $24.11.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The company had revenue of $51.13 million for the quarter, compared to analyst estimates of $36.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%.

Sierra Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. Sierra Bancorp’s dividend payout ratio (DPR) is 39.67%.

Insider Buying and Selling at Sierra Bancorp

In related news, EVP Michael Olague sold 14,088 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $30.95, for a total transaction of $436,023.60. Following the transaction, the executive vice president now owns 17,265 shares of the company’s stock, valued at approximately $534,351.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael Olague sold 14,088 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $30.95, for a total value of $436,023.60. Following the sale, the executive vice president now directly owns 17,265 shares in the company, valued at approximately $534,351.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Morris A. Tharp sold 10,000 shares of Sierra Bancorp stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $29.26, for a total value of $292,600.00. Following the completion of the transaction, the director now owns 475,060 shares of the company’s stock, valued at $13,900,255.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,366 shares of company stock valued at $1,370,158 over the last quarter. 11.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sierra Bancorp

A number of large investors have recently modified their holdings of BSRR. Lazard Asset Management LLC lifted its position in shares of Sierra Bancorp by 45.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,051 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 957 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Sierra Bancorp by 8.2% in the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock valued at $268,000 after buying an additional 904 shares during the last quarter. Vanguard Group Inc. raised its stake in Sierra Bancorp by 0.9% in the first 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 in the last quarter. Empowered Funds LLC lifted its holdings in Sierra Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock worth $1,337,000 after buying an additional 4,900 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Sierra Bancorp by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 119,520 shares of the financial services provider’s stock worth $2,675,000 after buying an additional 3,531 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other 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.