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

Sierra Bancorp (NASDAQ:BSRR) – Stock analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for Sierra Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $2.79 for the year, down from their previous forecast 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.

BSRR has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their price objective on Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Sierra Bancorp Trading Up 0.7 %

Shares of Sierra Bancorp stock opened at $27.51 on Monday. The stock has a market cap of $401.54 million, a PE ratio of 11.37 and a beta of 0.89. The firm has a fifty day moving average price of $28.64 and a 200 day moving average price of $24.11. Sierra Bancorp has a 1 year low of $16.75 and a 1 year high of $31.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $51.13 million during 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%.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of Sierra Bancorp by 45.7% during the first 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 in the last quarter. Panagora Asset Management Inc. boosted its position in Sierra Bancorp by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 904 shares during the last quarter. Vanguard Group Inc. grew its stake in Sierra Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 680,053 shares of the financial services provider’s stock valued at $13,737,000 after acquiring an additional 5,830 shares in the last quarter. Empowered Funds LLC raised its holdings in Sierra Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock valued at $1,337,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Sierra Bancorp by 3.0% in 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 purchasing an additional 3,531 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Insider Activity

In related news, EVP Michael Olague sold 3,098 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.70, for a total value of $85,814.60. Following the completion of the transaction, the executive vice president now owns 12,409 shares of the company’s stock, valued at approximately $343,729.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the transaction, the executive vice president now directly owns 12,409 shares of the company’s stock, valued at $343,729.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $292,600.00. Following the completion of the sale, the director now owns 475,060 shares in the company, valued at approximately $13,900,255.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,366 shares of company stock worth $1,370,158 in the last ninety days. Company insiders own 11.86% of the company’s stock.

Sierra Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.24 per share. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Wednesday, July 31st. Sierra Bancorp’s dividend payout ratio is presently 39.67%.

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.