Research Analysts Set Expectations for Sierra Bancorp’s FY2023 Earnings (NASDAQ:BSRR)

Posted by Defense World Staff on Oct 26th, 2023

Sierra Bancorp (NASDAQ:BSRR – Free Report) – Equities researchers at DA Davidson reduced their FY2023 earnings estimates for Sierra Bancorp in a research report issued on Tuesday, October 24th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.57 per share for the year, down from their prior estimate of $2.70. The consensus estimate for Sierra Bancorp’s current full-year earnings is $2.61 per share. DA Davidson also issued estimates for Sierra Bancorp’s Q4 2023 earnings at $0.60 EPS.

Sierra Bancorp (NASDAQ:BSRR – Get Free Report) last released its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $50.15 million during the quarter, compared to analysts’ expectations of $35.83 million. Sierra Bancorp had a net margin of 19.15% and a return on equity of 11.63%.

Several other analysts have also recently issued reports on the stock. TheStreet raised shares of Sierra Bancorp from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Sierra Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Tuesday, July 25th. Finally, StockNews.com started coverage on shares of Sierra Bancorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.33.

View Our Latest Stock Analysis on Sierra Bancorp

Sierra Bancorp Stock Down 2.0 %

BSRR stock opened at $17.57 on Wednesday. The stock has a market capitalization of $260.21 million, a P/E ratio of 7.32 and a beta of 0.97. The firm has a 50-day simple moving average of $19.34 and a 200-day simple moving average of $18.19. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.27. Sierra Bancorp has a 52 week low of $15.01 and a 52 week high of $22.52.

Institutional Investors Weigh In On Sierra Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in shares of Sierra Bancorp in the 1st quarter valued at approximately $42,000. BNP Paribas Arbitrage SNC grew its position in shares of Sierra Bancorp by 54.3% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 2,850 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,003 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Sierra Bancorp by 276.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,991 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,197 shares during the last quarter. CWM LLC grew its position in shares of Sierra Bancorp by 1,005.6% in the 1st quarter. CWM LLC now owns 3,538 shares of the financial services provider’s stock valued at $61,000 after buying an additional 3,218 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Sierra Bancorp by 414,000.0% in the 2nd quarter. Citigroup Inc. now owns 4,141 shares of the financial services provider’s stock valued at $70,000 after buying an additional 4,140 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sierra Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.92 dividend on an annualized basis and a yield of 5.24%. Sierra Bancorp’s dividend payout ratio (DPR) is presently 38.33%.

Sierra Bancorp Company Profile

(Get Free Report)

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.