Sierra Bancorp (NASDAQ:BSRR) Issues Earnings Results, Beats Estimates By $0.01 EPS

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01, Yahoo Finance reports. The firm had revenue of $52.59 million for the quarter, compared to the consensus estimate of $38.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%.

Sierra Bancorp Stock Performance

Sierra Bancorp stock traded up $0.27 during midday trading on Tuesday, hitting $27.99. The company's stock had a trading volume of 42,699 shares, compared to its average volume of 31,612. 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 has a market cap of $408.54 million, a price-to-earnings ratio of 11.36 and a beta of 0.89. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $31.85. The company has a 50-day moving average price of $28.84 and a two-hundred day moving average price of $24.69.

Sierra Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Thursday, October 31st. Sierra Bancorp's dividend payout ratio is 39.67%.

Insiders Place Their Bets

In other news, EVP Michael Olague sold 3,098 shares of Sierra Bancorp stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total value of $85,814.60. Following the completion of the sale, the executive vice president now directly owns 12,409 shares in the company, valued at approximately $343,729.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sierra Bancorp news, Director Morris A. Tharp sold 10,000 shares of the 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 sale, the director now directly owns 475,060 shares in the company, valued at $13,900,255.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Olague sold 3,098 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the completion of the transaction, the executive vice president now directly owns 12,409 shares in the company, valued at approximately $343,729.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,366 shares of company stock worth $1,370,158 in the last quarter. Corporate insiders own 11.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BSRR. Keefe, Bruyette & Woods upped their price target on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a "market perform" rating in a research note on Tuesday, July 23rd. StockNews.com downgraded Sierra Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th.

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.