FY2024 EPS Estimate for Sierra Bancorp Lowered by Analyst

Sierra Bancorp (NASDAQ:BSRR) – Equities researchers at DA Davidson lowered their FY2024 earnings estimates for Sierra Bancorp in a report issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $2.76 for the year, down from their prior forecast 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.

Several other analysts have also recently commented on the company. StockNews.com raised Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. 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 note on Tuesday, July 23rd.

Sierra Bancorp Trading Down 2.1 %

NASDAQ:BSRR opened at $27.99 on Thursday. The stock has a fifty day simple moving average of $28.89 and a 200 day simple moving average of $24.87. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $408.54 million, a price-to-earnings ratio of 11.57 and a beta of 0.89. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $31.85.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $52.59 million during the quarter, compared to analyst estimates of $38.30 million. Sierra Bancorp had a net margin of 17.77% and a return on equity of 10.66%.

Sierra Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a $0.24 dividend. 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 3.43%. Sierra Bancorp’s dividend payout ratio is currently 39.67%.

Insider Transactions at Sierra Bancorp

In related news, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total value of $292,600.00. Following the completion of the sale, the director now directly owns 475,060 shares in the company, valued at approximately $13,900,255.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sierra Bancorp news, Director Morris A. Tharp sold 10,000 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Olague sold 3,098 shares of the 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 sale, the executive vice president now owns 12,409 shares of the company’s stock, valued at approximately $343,729.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,758 shares of company stock worth $710,142. 11.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sierra Bancorp

Hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in shares of Sierra Bancorp in the third quarter valued at approximately $29,000. Lazard Asset Management LLC increased its holdings in 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 valued at $61,000 after purchasing an additional 957 shares in the last quarter. Acadian Asset Management LLC bought a new position in Sierra Bancorp in the 1st quarter valued at $94,000. SG Americas Securities LLC acquired a new position in Sierra Bancorp in the third quarter worth $142,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 904 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

About Sierra Bancorp

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.