Sierra Bancorp (NASDAQ:BSRR) Plans $0.24 Quarterly Dividend

Sierra Bancorp (NASDAQ:BSRR) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.24 per share by the financial services provider on Tuesday, November 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 31st.

Sierra Bancorp has increased its dividend payment by an average of 4.8% annually over the last three years. Sierra Bancorp has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sierra Bancorp to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 36.4%.

Sierra Bancorp Price Performance

Shares of NASDAQ:BSRR opened at $28.89 on Wednesday. The firm has a market cap of $421.68 million, a price-to-earnings ratio of 11.94 and a beta of 0.89. The firm has a fifty day moving average price of $28.91 and a 200 day moving average price of $25.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 0.76. Sierra Bancorp has a fifty-two week low of $16.75 and a fifty-two week high of $31.85.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Sierra Bancorp had a return on equity of 10.66% and a net margin of 17.77%. The company had revenue of $52.59 million during the quarter, compared to analyst estimates of $38.30 million. As a group, sell-side analysts expect that Sierra Bancorp will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BSRR has been the subject of a number of recent research reports. StockNews.com cut shares of Sierra Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price target on Sierra Bancorp from $23.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd.

Insider Buying and Selling

In other Sierra Bancorp news, EVP Michael Olague sold 3,098 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.70, for a total transaction of $85,814.60. Following the transaction, the executive vice president now owns 12,409 shares in the company, valued at $343,729.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.86% of the stock is owned by corporate insiders.

Sierra Bancorp Company Profile

Sierra Bancorp operates as the bank holding company for Bank of the Sierra that provides retail and commercial banking services to individuals and businesses in California. It accepts various deposit products, such as checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.