$23.90 Million in Sales Expected for Sierra Bancorp (BSRR) This Quarter

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.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.com-unik.info/2017/10/12/23-90-million-in-sales-expected-for-sierra-bancorp-bsrr-this-quarter.html.

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.

Get a free copy of the Zacks research report on Sierra Bancorp (BSRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Sierra Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sierra Bancorp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit