Sierra Bancorp (BSRR) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Sierra Bancorp (NASDAQ:BSRR) issued its earnings results on Monday. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02, MarketWatch Earnings reports. The business had revenue of $24.35 million during the quarter, compared to analysts’ expectations of $23.90 million. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%.
Shares of Sierra Bancorp (BSRR) traded up 0.04% during mid-day trading on Tuesday, hitting $27.30. The stock had a trading volume of 13,831 shares. Sierra Bancorp has a 12-month low of $17.25 and a 12-month high of $29.50. The stock has a market capitalization of $377.78 million, a price-to-earnings ratio of 19.80 and a beta of 0.86. The stock’s 50-day moving average price is $26.38 and its 200-day moving average price is $25.64.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.56 annualized dividend and a dividend yield of 2.05%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 40.88%.
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Several brokerages have recently commented on BSRR. BidaskClub raised Sierra Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. raised Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 target price on shares of Sierra Bancorp in a research report on Friday, July 14th. DA Davidson cut Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, ValuEngine cut Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sierra Bancorp has a consensus rating of “Hold” and an average price target of $28.15.
In related news, Director Robert L. Fields sold 9,600 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $27.14, for a total value of $260,544.00. Following the completion of the transaction, the director now directly owns 412,543 shares of the company’s stock, valued at approximately $11,196,417.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert L. Fields sold 2,465 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.13, for a total transaction of $66,875.45. Following the completion of the transaction, the director now directly owns 410,078 shares of the company’s stock, valued at $11,125,416.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,165 shares of company stock valued at $330,119. Company insiders own 15.24% of the company’s stock.
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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