Analysts Expect Sierra Bancorp (BSRR) Will Post Quarterly Sales of $23.90 Million
Wall Street analysts expect Sierra Bancorp (NASDAQ:BSRR) to announce $23.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sierra Bancorp’s earnings, with the lowest sales estimate coming in at $23.80 million and the highest estimate coming in at $24.00 million. Sierra Bancorp posted sales of $21.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The firm is expected to issue its next earnings results on Monday, October 23rd.
On average, analysts expect that Sierra Bancorp will report full-year sales of $23.90 million for the current financial year, with estimates ranging from $94.50 million to $97.50 million. For the next year, analysts forecast that the business will report sales of $110.90 million per share, with estimates ranging from $109.10 million to $112.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sierra Bancorp.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $23.20 million for the quarter, compared to analyst estimates of $22.80 million. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%.
Several equities research analysts have recently weighed in on BSRR shares. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, July 11th. DA Davidson raised shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, May 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 price target on shares of Sierra Bancorp in a research note on Friday, July 14th. Finally, Hovde Group raised their price target on shares of Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.75.
Shares of Sierra Bancorp (BSRR) traded up 0.46% during midday trading on Tuesday, reaching $26.35. 4,555 shares of the company’s stock were exchanged. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50. The stock’s 50 day moving average is $25.28 and its 200-day moving average is $26.09. The stock has a market cap of $364.63 million, a PE ratio of 19.11 and a beta of 0.86.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, August 1st. Sierra Bancorp’s payout ratio is 40.88%.
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In other Sierra Bancorp news, Director Robert L. Fields sold 9,600 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $27.14, for a total transaction of $260,544.00. Following the transaction, the director now directly owns 412,543 shares in the company, valued at approximately $11,196,417.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Fields sold 2,465 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total transaction of $66,875.45. Following the transaction, the director now owns 410,078 shares in the company, valued at $11,125,416.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,165 shares of company stock worth $330,119. 15.24% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Sierra Bancorp by 2.4% in the second quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after buying an additional 196 shares during the last quarter. American International Group Inc. boosted its stake in 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 worth $197,000 after buying an additional 478 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in Sierra Bancorp by 12.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock worth $177,000 after buying an additional 800 shares in the last quarter. Teachers Advisors LLC boosted its stake in Sierra Bancorp by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,300 shares in the last quarter. Finally, Strs Ohio boosted its stake in Sierra Bancorp by 6.2% in the second quarter. Strs Ohio now owns 25,800 shares of the financial services provider’s stock worth $633,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 53.92% of the company’s stock.
About Sierra Bancorp
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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