Sierra Bancorp (BSRR) Expected to Post Quarterly Sales of $26.90 Million

Brokerages expect Sierra Bancorp (NASDAQ:BSRR) to announce $26.90 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sierra Bancorp’s earnings, with estimates ranging from $26.70 million to $27.20 million. Sierra Bancorp posted sales of $23.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.2%. The company is expected to issue its next earnings report on Monday, January 22nd.

On average, analysts expect that Sierra Bancorp will report full-year sales of $26.90 million for the current fiscal year, with estimates ranging from $96.30 million to $97.40 million. For the next fiscal year, analysts expect that the company will report sales of $111.00 million per share, with estimates ranging from $110.10 million to $112.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Sierra Bancorp.

Sierra Bancorp (NASDAQ:BSRR) last posted its earnings results on Monday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $24.35 million during the quarter, compared to analyst estimates of $23.90 million. Sierra Bancorp had a return on equity of 9.87% and a net margin of 21.59%.

Several equities research analysts have recently issued reports on BSRR shares. Zacks Investment Research lowered shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. DA Davidson lowered shares of Sierra Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. ValuEngine downgraded shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. BidaskClub downgraded shares of Sierra Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, FIG Partners began coverage on shares of Sierra Bancorp in a research report on Thursday, December 21st. They issued a “market-perform” rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.79.

Sierra Bancorp (NASDAQ BSRR) opened at $26.65 on Tuesday. Sierra Bancorp has a 12-month low of $23.10 and a 12-month high of $29.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $407.56, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.81 and a beta of 0.80.

In other news, Director Gordon T. Woods sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $28.50, for a total value of $85,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robb Evans acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the acquisition, the director now owns 16,000 shares in the company, valued at $416,000. The disclosure for this purchase can be found here. Corporate insiders own 20.77% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of Sierra Bancorp in the second quarter valued at approximately $118,000. SG Americas Securities LLC acquired a new stake in shares of Sierra Bancorp in the 3rd quarter valued at $148,000. Cornerstone Capital Management Holdings LLC. lifted its position in Sierra Bancorp by 12.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 7,231 shares of the financial services provider’s stock worth $177,000 after buying an additional 800 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Sierra Bancorp during the 3rd quarter worth about $204,000. Finally, Wells Fargo & Company MN increased its stake in shares of Sierra Bancorp by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 8,321 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 196 shares during the last quarter. 49.24% of the stock is currently owned by hedge funds and other institutional investors.

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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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