Sierra Bancorp (NASDAQ:BSRR) Posts Quarterly Earnings Results, Beats Estimates 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) released its earnings results on Monday. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04, Zacks reports. Sierra Bancorp had a net margin of 20.09% and a return on equity of 11.44%. The firm had revenue of $39.21 million for the quarter, compared to the consensus estimate of $38.47 million.

Sierra Bancorp Trading Up 0.2%

Shares of NASDAQ BSRR traded up $0.05 during trading hours on Thursday, hitting $29.44. 22,216 shares of the company traded hands, compared to its average volume of 38,660. The stock has a market capitalization of $406.79 million, a price-to-earnings ratio of 10.19 and a beta of 0.75. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The company's 50 day moving average price is $29.22 and its 200 day moving average price is $28.71. Sierra Bancorp has a 12 month low of $22.42 and a 12 month high of $35.13.

Sierra Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. Sierra Bancorp's payout ratio is currently 34.60%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Sierra Bancorp

In other news, Director Lynda Scearcy sold 4,297 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $30.02, for a total transaction of $128,995.94. Following the transaction, the director owned 31,233 shares of the company's stock, valued at approximately $937,614.66. The trade was a 12.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.86% of the company's stock.

Hedge Funds Weigh In On Sierra Bancorp

An institutional investor recently raised its position in Sierra Bancorp stock. AQR Capital Management LLC increased its stake in shares of Sierra Bancorp (NASDAQ:BSRR - Free Report) by 71.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,072 shares of the financial services provider's stock after purchasing an additional 10,046 shares during the quarter. AQR Capital Management LLC owned 0.17% of Sierra Bancorp worth $671,000 at the end of the most recent quarter. 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.