Analysts Set Expectations for Sierra Bancorp’s FY2024 Earnings (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Investment analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Sierra Bancorp in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $2.52 for the year, down from their previous forecast of $2.67. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.45 per share.

BSRR has been the topic of several other reports. Keefe, Bruyette & Woods reduced 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. Janney Montgomery Scott raised Sierra Bancorp from a “neutral” rating to a “buy” rating and cut their target price for the company from $24.00 to $23.00 in a research report on Tuesday.

Sierra Bancorp Stock Performance

Sierra Bancorp stock opened at $20.50 on Thursday. The company’s 50-day moving average price is $18.79 and its 200-day moving average price is $19.54. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The company has a market cap of $300.33 million, a PE ratio of 8.44 and a beta of 0.93. Sierra Bancorp has a twelve month low of $15.01 and a twelve month high of $23.21.

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

Institutional Investors Weigh In On Sierra Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BSRR. SG Americas Securities LLC purchased a new stake in Sierra Bancorp in the third quarter worth $120,000. Bfsg LLC purchased a new position in Sierra Bancorp in the 4th quarter worth about $122,000. Trexquant Investment LP bought a new stake in Sierra Bancorp during the 4th quarter valued at about $280,000. BNP Paribas Financial Markets boosted its position in Sierra Bancorp by 118.2% in the 4th quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider’s stock valued at $343,000 after buying an additional 8,243 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Sierra Bancorp in the 3rd quarter worth about $689,000. 55.40% of the stock is owned by institutional investors.

Sierra Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, April 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.49%. Sierra Bancorp’s dividend payout ratio is 38.02%.

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.