Sierra Bancorp (NASDAQ:BSRR) Shareholders to Get $0.27 Quarterly Dividend

Key Points

• Sierra Bancorp declared a quarterly dividend of $0.27 per share, payable November 9 to shareholders of record as of November 2. The dividend equates to $1.08 annually and a 2.6% yield.
• The dividend appears well covered, with a current payout ratio of 34.5% and an expected forward payout ratio of 28.5%; the company has raised its dividend for two consecutive years.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a $38.67 consensus price target. Shares recently traded at $41.74 after the company reported quarterly EPS of $0.77, below the $0.89 consensus estimate.

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

Sierra Bancorp has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Sierra Bancorp has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of Sierra Bancorp stock traded up $1.33 during trading on Friday, reaching $41.74. 87,097 shares of the stock traded hands, compared to its average volume of 61,073. The company has a market capitalization of $540.95 million, a price-to-earnings ratio of 12.20 and a beta of 0.76. The business has a fifty day simple moving average of $39.93 and a two-hundred day simple moving average of $39.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Sierra Bancorp has a 52-week low of $26.62 and a 52-week high of $43.13.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.12). The firm had revenue of $38.98 million during the quarter, compared to the consensus estimate of $39.59 million. Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%. Sell-side analysts expect that Sierra Bancorp will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BSRR shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Piper Sandler lowered their target price on Sierra Bancorp from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Sierra Bancorp has an average rating of "Hold" and a consensus target price of $38.67.

Sierra Bancorp Company Profile

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.

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