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

Sierra Bancorp (NASDAQ:BSRR) declared a quarterly dividend on Friday, April 19th, investing.com reports. Investors 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 of this dividend 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% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.4 %

Shares of NASDAQ:BSRR opened at $20.50 on Friday. Sierra Bancorp has a 52-week low of $15.01 and a 52-week high of $23.21. The firm has a fifty day moving average of $18.82 and a 200 day moving average of $19.55. The firm has a market capitalization of $300.28 million, a PE ratio of 8.47 and a beta of 0.93. 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 (NASDAQ:BSRR) last posted its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.43 earnings per share (EPS) 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 business had revenue of $50.49 million for the quarter, compared to analysts’ expectations of $35.15 million. As a group, research analysts anticipate that Sierra Bancorp will post 2.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on BSRR. Keefe, Bruyette & Woods lowered their price objective on shares of Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating for the company in a research note on Tuesday, April 23rd. Janney Montgomery Scott raised shares of 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 note on Tuesday, April 23rd.

About Sierra Bancorp

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.