Sierra Bancorp (NASDAQ:BSRR) Releases Earnings Results, Beats Estimates By $0.11 EPS

Sierra Bancorp (NASDAQ:BSRR) posted its earnings results on Monday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11, Yahoo Finance reports. Sierra Bancorp had a net margin of 17.80% and a return on equity of 10.89%. The company had revenue of $51.13 million during the quarter, compared to analysts’ expectations of $36.30 million.

Sierra Bancorp Price Performance

Shares of NASDAQ BSRR opened at $28.14 on Tuesday. The firm has a market cap of $410.84 million, a PE ratio of 11.62 and a beta of 0.91. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.25. Sierra Bancorp has a 1-year low of $16.75 and a 1-year high of $28.28. The company has a fifty day moving average price of $22.08 and a 200 day moving average price of $20.51.

Sierra Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.24 dividend. This is a positive change from Sierra Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.41%. Sierra Bancorp’s payout ratio is 38.02%.

Insiders Place Their Bets

In other Sierra Bancorp news, EVP Michael Olague sold 4,753 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $22.29, for a total value of $105,944.37. Following the transaction, the executive vice president now directly owns 31,353 shares of the company’s stock, valued at approximately $698,858.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.86% of the company’s stock.

Analyst Upgrades and Downgrades

BSRR has been the subject of several recent research reports. Janney Montgomery Scott cut shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods upped their target price on shares of Sierra Bancorp from $23.00 to $29.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, StockNews.com cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th.

About Sierra Bancorp

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.