Sierra Bancorp FY2024 EPS Forecast Decreased by DA Davidson

Sierra Bancorp (NASDAQ:BSRR - Free Report) - Stock analysts at DA Davidson dropped their FY2024 EPS estimates for shares of Sierra Bancorp in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $2.76 for the year, down from their prior estimate of $2.79. The consensus estimate for Sierra Bancorp's current full-year earnings is $2.77 per share. DA Davidson also issued estimates for Sierra Bancorp's Q4 2024 earnings at $0.72 EPS.

BSRR has been the topic of a number of other research reports. StockNews.com raised shares of Sierra Bancorp from a "hold" rating to a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Sierra Bancorp from $23.00 to $29.00 and gave the stock a "market perform" rating in a report on Tuesday, July 23rd.

Sierra Bancorp Stock Performance

BSRR traded down $0.34 on Thursday, hitting $28.59. The company had a trading volume of 16,562 shares, compared to its average volume of 31,493. The stock has a market cap of $417.30 million, a price-to-earnings ratio of 11.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.76. The company's fifty day moving average price is $28.88 and its 200 day moving average price is $24.78. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $31.85.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $52.59 million during the quarter, compared to analysts' expectations of $38.30 million. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%.

Institutional Trading of Sierra Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in 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 buying an additional 957 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Sierra Bancorp by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 11,957 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 904 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 increased its stake in Sierra Bancorp by 8.0% in the first 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 period. Finally, Bank of New York Mellon Corp raised its position in Sierra Bancorp by 3.0% in the second 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. 55.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael Olague sold 11,660 shares of the business's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $28.45, for a total transaction of $331,727.00. Following the transaction, the executive vice president now owns 25,132 shares of the company's stock, valued at approximately $715,005.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Julie G. Castle sold 1,235 shares of the business's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $29.36, for a total transaction of $36,259.60. Following the transaction, the director now directly owns 5,100 shares in the company, valued at $149,736. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Olague sold 11,660 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.45, for a total value of $331,727.00. Following the completion of the sale, the executive vice president now owns 25,132 shares of the company's stock, valued at $715,005.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,278 shares of company stock valued at $934,134. 11.86% of the stock is owned by company insiders.

Sierra Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.36%. Sierra Bancorp's dividend payout ratio (DPR) 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.