Sierra Bancorp (NASDAQ:BSRR) to Post Q2 2024 Earnings of $0.64 Per Share, DA Davidson Forecasts

Sierra Bancorp (NASDAQ:BSRR) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Sierra Bancorp in a report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings of $0.64 per share for the quarter. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.33 per share. DA Davidson also issued estimates for Sierra Bancorp’s FY2025 earnings at $2.58 EPS.

BSRR has been the topic of a number of other reports. Janney Montgomery Scott upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $24.00 to $23.00 in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sierra Bancorp has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Sierra Bancorp Trading Up 4.7 %

Sierra Bancorp stock opened at $20.90 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50-day simple moving average is $18.73 and its 200-day simple moving average is $19.52. The firm has a market capitalization of $306.19 million, a PE ratio of 8.62 and a beta of 0.93. Sierra Bancorp has a 52 week low of $15.01 and a 52 week high of $23.21.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The business had revenue of $50.49 million during the quarter, compared to the consensus estimate of $35.15 million. Sierra Bancorp had a return on equity of 11.11% and a net margin of 17.80%.

Sierra Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.92 annualized dividend and a yield of 4.40%. Sierra Bancorp’s dividend payout ratio is 38.02%.

Hedge Funds Weigh In On Sierra Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Sierra Bancorp by 16.0% during the fourth quarter. SG Americas Securities LLC now owns 7,338 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 1,012 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Sierra Bancorp by 2.1% during the third quarter. Assenagon Asset Management S.A. now owns 52,829 shares of the financial services provider’s stock valued at $1,002,000 after purchasing an additional 1,095 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sierra Bancorp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 996,631 shares of the financial services provider’s stock valued at $22,474,000 after purchasing an additional 3,348 shares in the last quarter. Bfsg LLC acquired a new stake in Sierra Bancorp during the fourth quarter valued at approximately $122,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Sierra Bancorp by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 7,260 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

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.