Sierra Bancorp (NASDAQ:BSRR) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Sierra Bancorp reported earnings of $0.78 EPS, exceeding expectations by $0.04, with a net margin of 19.92% and a return on equity of 11.38%.
• The company declared a $0.25 per share dividend, representing a yield of 3.28%, with the payout date set for August 14th.
• Hedge funds and institutional investors hold 55.40% of Sierra Bancorp's stock, indicating significant institutional interest in the company.

Sierra Bancorp (NASDAQ:BSRR - Get Free Report) announced its earnings results on Monday. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04, Zacks reports. Sierra Bancorp had a net margin of 19.92% and a return on equity of 11.38%.

Sierra Bancorp Price Performance

BSRR stock opened at $30.24 on Monday. Sierra Bancorp has a 52 week low of $22.42 and a 52 week high of $35.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $29.14 and a two-hundred day simple moving average of $28.67. The firm has a market capitalization of $417.85 million, a P/E ratio of 10.74 and a beta of 0.75.

Sierra Bancorp Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, August 14th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a yield of 3.28%. Sierra Bancorp's dividend payout ratio (DPR) is currently 35.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. DA Davidson dropped their target price on shares of Sierra Bancorp from $37.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Keefe, Bruyette & Woods dropped their target price on shares of Sierra Bancorp from $32.00 to $31.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Sierra Bancorp from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd.

Insider Buying and Selling

In other Sierra Bancorp news, Director Lynda Scearcy sold 4,297 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $30.02, for a total transaction of $128,995.94. Following the completion of the transaction, the director owned 31,233 shares in the company, valued at $937,614.66. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sierra Bancorp

An institutional investor recently bought a new position in Sierra Bancorp stock. Jane Street Group LLC acquired a new stake in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,129 shares of the financial services provider's stock, valued at approximately $784,000. Jane Street Group LLC owned about 0.20% of Sierra Bancorp as of its most recent SEC filing. Hedge funds and other institutional investors own 55.40% of the company's stock.

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.

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