Brokers Offer Predictions for Sierra Bancorp's FY2024 Earnings (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR - Free Report) - Equities research analysts at DA Davidson cut their FY2024 earnings estimates for Sierra Bancorp in a note issued to investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now anticipates 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 $2.33 per share.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $50.49 million during the quarter, compared to analysts' expectations of $35.15 million. Sierra Bancorp had a return on equity of 11.11% and a net margin of 17.80%.

BSRR has been the subject of several other reports. Keefe, Bruyette & Woods decreased their price objective on shares of Sierra Bancorp from $24.00 to $23.00 and set a "market perform" rating for the company in a research note on Tuesday. Janney Montgomery Scott upgraded shares of Sierra Bancorp from a "neutral" rating to a "buy" rating and decreased their target price for the company from $24.00 to $23.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Sierra Bancorp Stock Down 2.3 %

NASDAQ BSRR traded down $0.48 during trading on Thursday, reaching $20.42. 25,752 shares of the company's stock traded hands, compared to its average volume of 27,312. The company's 50 day simple moving average is $18.77 and its two-hundred day simple moving average is $19.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. Sierra Bancorp has a 12-month low of $15.01 and a 12-month high of $23.21. The firm has a market cap of $299.15 million, a price-to-earnings ratio of 8.50 and a beta of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BSRR. SG Americas Securities LLC acquired a new stake in shares of Sierra Bancorp during the third quarter worth about $120,000. Bfsg LLC purchased a new stake in shares of Sierra Bancorp during the fourth quarter worth approximately $122,000. Trexquant Investment LP purchased a new stake in shares of Sierra Bancorp during the fourth quarter worth approximately $280,000. BNP Paribas Financial Markets increased its stake in shares of Sierra Bancorp by 118.2% during the fourth quarter. BNP Paribas Financial Markets now owns 15,218 shares of the financial services provider's stock worth $343,000 after buying an additional 8,243 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Sierra Bancorp during the third quarter worth approximately $689,000. Institutional investors and hedge funds own 55.40% of the company's stock.

Sierra Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be given 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 dividend yield of 4.51%. Sierra Bancorp's 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.