Zacks: Analysts Anticipate Sierra Bancorp (BSRR) Will Announce Earnings of $0.40 Per Share
Wall Street brokerages expect that Sierra Bancorp (NASDAQ:BSRR) will report earnings per share (EPS) of $0.40 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sierra Bancorp’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.41. Sierra Bancorp reported earnings per share of $0.28 in the same quarter last year, which indicates a positive year over year growth rate of 42.9%. The company is expected to announce its next earnings results on Monday, October 23rd.
According to Zacks, analysts expect that Sierra Bancorp will report full-year earnings of $1.48 per share for the current financial year. For the next fiscal year, analysts expect that the business will post earnings of $1.75 per share, with EPS estimates ranging from $1.70 to $1.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Sierra Bancorp had a return on equity of 9.13% and a net margin of 20.35%. The firm had revenue of $23.20 million during the quarter, compared to analyst estimates of $22.80 million.
BSRR has been the subject of a number of research analyst reports. ValuEngine raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. 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. 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, July 25th. BidaskClub cut shares of Sierra Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Sierra Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.95.
Shares of Sierra Bancorp (BSRR) traded up 1.00% during trading on Thursday, hitting $25.31. The company had a trading volume of 20,402 shares. Sierra Bancorp has a 52-week low of $17.25 and a 52-week high of $29.50. The stock’s 50-day moving average is $25.51 and its 200 day moving average is $26.01. The firm has a market capitalization of $350.24 million, a P/E ratio of 18.35 and a beta of 0.86.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a $0.14 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $0.56 dividend on an annualized basis and a yield of 2.23%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 40.88%.
In other news, Director Robert L. Fields sold 2,465 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $27.13, for a total value of $66,875.45. Following the sale, the director now directly owns 410,078 shares in the company, valued at $11,125,416.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Fields sold 9,600 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $27.14, for a total transaction of $260,544.00. Following the completion of the sale, the director now owns 412,543 shares in the company, valued at $11,196,417.02. 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. 15.24% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in BSRR. Tower Research Capital LLC TRC acquired a new stake in Sierra Bancorp during the second quarter valued at approximately $118,000. Cornerstone Capital Management Holdings LLC. raised 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 valued at $177,000 after buying an additional 800 shares in the last quarter. American International Group Inc. raised 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 valued at $197,000 after buying an additional 478 shares in the last quarter. Trexquant Investment LP acquired a new stake in Sierra Bancorp during the second quarter valued at approximately $204,000. Finally, Wells Fargo & Company MN raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 53.13% 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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