Sierra Bancorp Announces Quarterly Dividend of $0.23 (NASDAQ:BSRR)

Sierra Bancorp (NASDAQ:BSRR) announced a quarterly dividend on Friday, April 19th, investing.com reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.23 per share by the financial services provider on Monday, May 13th. This represents a $0.92 annualized dividend and a yield of 4.49%. The ex-dividend date is Monday, April 29th.

Sierra Bancorp has increased its dividend payment by an average of 4.8% per year over the last three years. Sierra Bancorp has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sierra Bancorp to earn $2.47 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 37.2%.

Sierra Bancorp Stock Performance

Shares of BSRR stock opened at $20.50 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Sierra Bancorp has a fifty-two week low of $15.01 and a fifty-two week high of $23.21. The stock has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $19.55. The company has a market capitalization of $300.33 million, a P/E ratio of 8.47 and a beta of 0.93.

Sierra Bancorp (NASDAQ:BSRR) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.26). Sierra Bancorp had a net margin of 17.80% and a return on equity of 11.11%. The company had revenue of $50.49 million during the quarter, compared to the consensus estimate of $35.15 million. Analysts expect that Sierra Bancorp will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on BSRR shares. Janney Montgomery Scott upgraded Sierra Bancorp from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $24.00 to $23.00 in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Tuesday.

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.