Zacks: Brokerages Expect Sierra Bancorp (BSRR) Will Announce Quarterly Sales of $23.65 Million
Equities analysts predict that Sierra Bancorp (NASDAQ:BSRR) will post $23.65 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Sierra Bancorp’s earnings, with the lowest sales estimate coming in at $23.30 million and the highest estimate coming in at $24.00 million. Sierra Bancorp reported sales of $21.90 million in the same quarter last year, which would suggest a positive year over year growth rate of 8%. The company is scheduled to issue its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that Sierra Bancorp will report full-year sales of $23.65 million for the current financial year, with estimates ranging from $93.00 million to $97.50 million. For the next financial year, analysts forecast that the firm will post sales of $110.15 million per share, with estimates ranging from $107.60 million to $112.70 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Sierra Bancorp.
Sierra Bancorp (NASDAQ:BSRR) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The company had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. Sierra Bancorp had a return on equity of 9.22% and a net margin of 20.35%.
Several brokerages recently weighed in on BSRR. DA Davidson raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, May 23rd. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Raymond James Financial, Inc. raised shares of Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 target price on shares of Sierra Bancorp in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.90.
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In other news, Director Robb Evans bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was bought at an average price of $25.39 per share, with a total value of $25,390.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $380,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BSRR. American International Group Inc. increased its position in shares of Sierra Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 7,174 shares of the financial services provider’s stock valued at $197,000 after buying an additional 478 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Sierra Bancorp during the fourth quarter valued at $213,000. Oxford Asset Management purchased a new position in shares of Sierra Bancorp during the first quarter valued at $490,000. Teachers Advisors LLC increased its position in shares of Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock valued at $516,000 after buying an additional 1,300 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Sierra Bancorp by 33.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the financial services provider’s stock valued at $582,000 after buying an additional 5,300 shares in the last quarter. 54.07% of the stock is owned by institutional investors.
Shares of Sierra Bancorp (NASDAQ:BSRR) opened at 26.66 on Thursday. Sierra Bancorp has a 12 month low of $16.98 and a 12 month high of $29.50. The company’s 50 day moving average price is $24.76 and its 200-day moving average price is $26.12. The stock has a market capitalization of $368.73 million, a P/E ratio of 20.37 and a beta of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, August 1st. Sierra Bancorp’s dividend payout ratio is currently 40.88%.
Sierra Bancorp Company Profile
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. Its customers have access to electronic point-of-sale payment alternatives around the country through the Pulse Electronic Funds Transfer (EFT) network.
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