DA Davidson Weighs in on Sierra Bancorp’s Q2 2024 Earnings (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Sierra Bancorp in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $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.

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

Several other brokerages also recently weighed in on BSRR. Keefe, Bruyette & Woods cut their target price on shares of 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 shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and cut their target price for the stock from $24.00 to $23.00 in a research note on Tuesday.

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $20.42 on Wednesday. The firm’s 50 day moving average price is $18.77 and its 200-day moving average price is $19.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Sierra Bancorp has a one year low of $15.01 and a one year high of $23.21. The firm has a market cap of $299.15 million, a P/E ratio of 8.50 and a beta of 0.93.

Sierra Bancorp Announces Dividend

The firm also recently announced 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. This represents a $0.92 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, April 29th. Sierra Bancorp’s payout ratio is currently 38.02%.

Institutional Investors Weigh In On Sierra Bancorp

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of Sierra Bancorp by 15.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 77,645 shares of the financial services provider’s stock valued at $1,568,000 after purchasing an additional 10,496 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Sierra Bancorp in the 4th quarter valued at approximately $280,000. Dimensional Fund Advisors LP increased its position in shares of Sierra Bancorp by 0.3% in the 4th 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 during the last quarter. BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 8,243 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Sierra Bancorp by 20.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 43,620 shares of the financial services provider’s stock valued at $984,000 after buying an additional 7,260 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.