Sierra Bancorp (NASDAQ:BSRR) Shareholders to Collect $0.27 Quarterly Dividend

Sierra Bancorp (NASDAQ:BSRR) declared a quarterly dividend on Friday, October 23rd. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.27 per share by the financial services provider on Monday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 2nd.

Sierra Bancorp has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Sierra Bancorp has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sierra Bancorp to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.

Sierra Bancorp Stock Up 3.3%

Sierra Bancorp stock traded up $1.33 during mid-day trading on Friday, hitting $41.74. The company’s stock had a trading volume of 87,097 shares, compared to its average volume of 55,780. The firm’s 50 day moving average is $39.95 and its 200 day moving average is $39.36. The company has a market cap of $540.95 million, a PE ratio of 12.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Sierra Bancorp has a 52-week low of $26.62 and a 52-week high of $43.13.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Sierra Bancorp had a return on equity of 12.38% and a net margin of 22.37%. The business had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.59 million. On average, analysts anticipate that Sierra Bancorp will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSRR has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of Sierra Bancorp from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Sierra Bancorp in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.67.

About Sierra Bancorp

Sierra Bancorp is the bank holding company for Bank of the Sierra, a community bank headquartered in Porterville, California. Founded in 1977, the bank serves individuals, families, farmers, small businesses and commercial customers in California’s Central Valley and surrounding communities.

Bank of the Sierra provides a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial real estate loans, business banking, agricultural financing and online and mobile banking.