Sierra Bancorp (NASDAQ:BSRR) to Issue Dividend Increase – $0.27 Per Share

Sierra Bancorp (NASDAQ:BSRR) announced a quarterly dividend on Friday, July 24th. Stockholders of record on Monday, August 3rd will be given a dividend of 0.27 per share by the financial services provider on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 3rd. This is a 3.8% increase from Sierra Bancorp’s previous quarterly dividend of $0.26.

Sierra Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. Sierra Bancorp has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sierra Bancorp to earn $3.88 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 26.8%.

Sierra Bancorp Trading Up 0.4%

Shares of BSRR stock traded up $0.16 on Friday, reaching $41.88. 69,474 shares of the stock were exchanged, compared to its average volume of 62,856. The stock has a market cap of $547.79 million, a PE ratio of 12.21 and a beta of 0.76. Sierra Bancorp has a one year low of $26.49 and a one year high of $43.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50 day moving average price of $39.91 and a 200 day moving average price of $36.99.

Sierra Bancorp (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.14. The business had revenue of $38.66 million for the quarter, compared to analysts’ expectations of $39.68 million. Sierra Bancorp had a return on equity of 12.67% and a net margin of 22.53%. Equities research analysts forecast that Sierra Bancorp will post 3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSRR has been the subject of a number of analyst reports. Zacks Research lowered shares of Sierra Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. DA Davidson reissued a “buy” rating and issued a $44.00 price target on shares of Sierra Bancorp in a research note on Tuesday, April 28th. Piper Sandler reduced their price target on Sierra Bancorp from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sierra Bancorp in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.00.

Sierra Bancorp Company Profile

Sierra Bancorp (NASDAQ: BSRR) is a bank holding company headquartered in Porterville, California. The company operates through its banking subsidiary, offering a full suite of financial services to individual and commercial clients. With a community-focused approach, Sierra Bancorp emphasizes relationship banking and local market expertise.

Its core business activities include deposit-taking and lending. On the deposit side, Sierra Bancorp provides checking, savings, money market and certificate of deposit accounts.