DA Davidson Weighs in on Sierra Bancorp’s Q3 2024 Earnings (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Stock analysts at DA Davidson cut their Q3 2024 earnings estimates for shares of Sierra Bancorp in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.75 per share for the quarter, down from their previous estimate of $0.76. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.76 per share.

Sierra Bancorp (NASDAQ:BSRR) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. The company had revenue of $51.13 million during the quarter, compared to the consensus estimate of $36.30 million.

Several other research firms also recently weighed in on BSRR. StockNews.com downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their target price on Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd.

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $27.52 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $401.68 million, a PE ratio of 11.37 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 stock has a fifty day moving average price of $28.70 and a 200 day moving average price of $23.95.

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in Sierra Bancorp by 45.7% in the first 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 during the last quarter. Acadian Asset Management LLC acquired a new position in Sierra Bancorp in the first quarter worth about $94,000. SG Americas Securities LLC acquired a new position in shares of Sierra Bancorp in the 3rd quarter worth approximately $142,000. Panagora Asset Management Inc. raised 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. Finally, Empowered Funds LLC lifted its stake in Sierra Bancorp by 8.0% during the first quarter. Empowered Funds LLC now owns 66,202 shares of the financial services provider’s stock worth $1,337,000 after purchasing an additional 4,900 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Insider Buying and Selling at Sierra Bancorp

In other news, Director Morris A. Tharp sold 10,000 shares of Sierra Bancorp stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $29.26, for a total value of $292,600.00. Following the transaction, the director now directly 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 document filed with the SEC, which is available at this link. In other news, Director Morris A. Tharp sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 owns 475,060 shares of the company’s stock, valued at $13,900,255.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Olague sold 3,098 shares of the stock in a transaction dated 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 owns 12,409 shares of the company’s stock, valued at approximately $343,729.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,366 shares of company stock valued at $1,370,158. Company insiders own 11.86% of the company’s stock.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Sierra Bancorp’s previous quarterly dividend of $0.23. Sierra Bancorp’s payout ratio is 39.67%.

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.