$26.40 Million in Sales Expected for Sierra Bancorp (BSRR) This Quarter
Wall Street brokerages predict that Sierra Bancorp (NASDAQ:BSRR) will announce sales of $26.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sierra Bancorp’s earnings. The lowest sales estimate is $25.60 million and the highest is $27.20 million. Sierra Bancorp reported sales of $23.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The company is scheduled to announce its next quarterly earnings report on Monday, January 22nd.
According to Zacks, analysts expect that Sierra Bancorp will report full-year sales of $26.40 million for the current fiscal year, with estimates ranging from $94.50 million to $97.40 million. For the next financial year, analysts expect that the company will post sales of $110.75 million per share, with estimates ranging from $109.10 million to $112.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Sierra Bancorp.
Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Sierra Bancorp had a return on equity of 9.97% and a net margin of 21.59%. The firm had revenue of $24.35 million for the quarter, compared to analyst estimates of $23.90 million.
Several equities analysts have recently commented on BSRR shares. Zacks Investment Research upgraded Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.00 price objective on shares of Sierra Bancorp in a research report on Friday, July 14th. Raymond James Financial, Inc. upgraded Sierra Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 25th. BidaskClub lowered Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, ValuEngine lowered Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.15.
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Shares of Sierra Bancorp (BSRR) opened at 27.20 on Friday. The stock’s 50 day moving average price is $26.47 and its 200-day moving average price is $25.65. Sierra Bancorp has a 52 week low of $17.25 and a 52 week high of $29.50. The firm has a market capitalization of $376.39 million, a price-to-earnings ratio of 19.72 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 1st. Sierra Bancorp’s dividend payout ratio is presently 37.33%.
In related news, 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 completion of the sale, the director now directly owns 410,078 shares in the company, valued at approximately $11,125,416.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $260,544.00. Following the sale, the director now owns 412,543 shares of the company’s stock, valued at $11,196,417.02. The disclosure for this sale can be found here. Corporate insiders own 15.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Sierra Bancorp by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 905,877 shares of the financial services provider’s stock valued at $22,239,000 after acquiring an additional 29,524 shares during the period. Vanguard Group Inc. boosted its holdings in Sierra Bancorp by 9.7% during the 2nd quarter. Vanguard Group Inc. now owns 499,960 shares of the financial services provider’s stock valued at $12,274,000 after acquiring an additional 44,242 shares during the period. Northern Trust Corp boosted its holdings in Sierra Bancorp by 4.3% during the 2nd quarter. Northern Trust Corp now owns 438,425 shares of the financial services provider’s stock valued at $10,763,000 after acquiring an additional 18,165 shares during the period. FMR LLC boosted its holdings in Sierra Bancorp by 64.3% during the 1st quarter. FMR LLC now owns 388,869 shares of the financial services provider’s stock valued at $10,667,000 after acquiring an additional 152,200 shares during the period. Finally, State Street Corp boosted its holdings in Sierra Bancorp by 6.3% during the 2nd quarter. State Street Corp now owns 215,866 shares of the financial services provider’s stock valued at $5,298,000 after acquiring an additional 12,798 shares during the period. Institutional investors own 53.12% 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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