Sierra Bancorp (BSRR) to Issue Quarterly Dividend of $0.27 on November 9th

Sierra Bancorp (NASDAQ:BSRR) announced a quarterly dividend on Friday, October 23rd. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.27 per share by the financial services provider on Monday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 2nd.

Sierra Bancorp has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 2 years. Sierra Bancorp has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Sierra Bancorp to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.

Sierra Bancorp Stock Performance

Shares of NASDAQ BSRR opened at $41.74 on Friday. The business’s 50-day simple moving average is $39.95 and its 200-day simple moving average is $39.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Sierra Bancorp has a 52 week low of $26.62 and a 52 week high of $43.13. The firm has a market cap of $541.08 million, a price-to-earnings ratio of 12.20 and a beta of 0.76.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.12). The company had revenue of $38.98 million during the quarter, compared to analyst estimates of $39.59 million. Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%. As a group, equities research analysts expect that Sierra Bancorp will post 3.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BSRR. Weiss Ratings reissued a “buy (b)” rating on shares of Sierra Bancorp in a research report on Monday, September 21st. Piper Sandler decreased their price objective on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sierra Bancorp currently has a consensus rating of “Hold” and an average price target of $38.67.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.