Analysts predict that Sierra Bancorp (NASDAQ:BSRR) will report $23.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Sierra Bancorp’s earnings, with the lowest sales estimate coming in at $23.80 million and the highest estimate coming in at $24.00 million. Sierra Bancorp reported sales of $21.90 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is expected to announce its next earnings results on Monday, October 23rd.
On average, analysts expect that Sierra Bancorp will report full year sales of $23.90 million for the current fiscal year, with estimates ranging from $94.50 million to $97.50 million. For the next year, analysts anticipate that the business will report sales of $110.90 million per share, with estimates ranging from $109.10 million to $112.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Sierra Bancorp.
Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $23.20 million during the quarter, compared to analyst estimates of $22.80 million. Sierra Bancorp had a net margin of 20.35% and a return on equity of 9.13%.
BSRR has been the subject of several research analyst reports. Zacks Investment Research cut Sierra Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. ValuEngine upgraded Sierra Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Hovde Group increased their price objective on Sierra Bancorp from $26.50 to $27.75 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Finally, BidaskClub cut Sierra Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.15.
Sierra Bancorp (BSRR) traded down 0.99% during trading on Monday, hitting $27.01. 22,991 shares of the stock traded hands. The stock has a market cap of $373.76 million, a P/E ratio of 19.59 and a beta of 0.86. Sierra Bancorp has a 12 month low of $17.25 and a 12 month high of $29.50. The firm’s 50-day moving average is $25.94 and its 200-day moving average is $25.62.
In other news, Director Robert L. Fields sold 9,600 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was 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 owns 412,543 shares in the company, valued at $11,196,417.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert L. Fields sold 2,465 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 410,078 shares of the company’s stock, valued at approximately $11,125,416.14. The disclosure for this sale can be found here. Insiders sold 12,165 shares of company stock valued at $330,119 in the last quarter. 15.24% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in shares of Sierra Bancorp in the second quarter valued at $118,000. American International Group Inc. increased its position in shares of 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. Cornerstone Capital Management Holdings LLC. increased its position in shares of 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. Trexquant Investment LP purchased a new position in shares of Sierra Bancorp in the second quarter valued at $204,000. Finally, Wells Fargo & Company MN increased its position in shares of 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.
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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