Sierra Bancorp Plans 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 given a dividend of 0.23 per share by the financial services provider on Monday, May 13th. This represents a $0.92 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Monday, April 29th.

Sierra Bancorp has increased its dividend by an average of 4.8% annually over the last three years. Sierra Bancorp has a payout ratio of 37.2% indicating that 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 Price Performance

Shares of NASDAQ:BSRR opened at $20.50 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market cap of $300.33 million, a PE ratio of 8.47 and a beta of 0.93. The company’s fifty day moving average is $18.82 and its 200 day moving average is $19.55. Sierra Bancorp has a 52 week low of $15.01 and a 52 week high of $23.21.

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 return on equity of 11.11% and a net margin of 17.80%. The company had revenue of $50.49 million for the quarter, compared to the consensus estimate of $35.15 million. Research analysts anticipate that Sierra Bancorp will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

BSRR has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on Sierra Bancorp from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Tuesday. Janney Montgomery Scott upgraded shares of Sierra Bancorp from a “neutral” rating to a “buy” rating and reduced their price target for the company from $24.00 to $23.00 in a research report on Tuesday.

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.