Sierra Bancorp (BSRR) Declares $0.23 Dividend
Sierra Bancorp said on April 21, 2023 that its board of directors declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Previously, the company paid $0.23 per share.
Shares must be purchased before the ex-div date of April 28, 2023 to qualify for the dividend. Shareholders of record as of May 1, 2023 will receive the payment on May 12, 2023.
At the current share price of $16.00 / share, the stock's dividend yield is 5.75%. Looking back five years and taking a sample every week, the average dividend yield has been 3.43%, the lowest has been 2.07%, and the highest has been 5.67%. The standard deviation of yields is 0.83 (n=236).
The current dividend yield is 2.80 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.42. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.15%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 243 funds or institutions reporting positions in Sierra Bancorp. This is an increase of 5 owner(s) or 2.10% in the last quarter. Average portfolio weight of all funds dedicated to BSRR is 0.03%, a decrease of 23.77%. Total shares owned by institutions increased in the last three months by 3.09% to 9,727K shares. 
The put/call ratio of BSRR is 1.00, indicating a neutral outlook.
Analyst Price Forecast Suggests 46.63% Upside
As of April 6, 2023, the average one-year price target for Sierra Bancorp is $23.46. The forecasts range from a low of $21.21 to a high of $25.20. The average price target represents an increase of 46.63% from its latest reported closing price of $16.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sierra Bancorp is $155MM, an increase of 19.54%. The projected annual non-GAAP EPS is $2.90.
What are Other Shareholders Doing?
Private Management Group holds 538K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 543K shares, representing a decrease of 0.92%. The firm increased its portfolio allocation in BSRR by 1.48% over the last quarter.
Manufacturers Life Insurance Company, The holds 461K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 336K shares, representing an increase of 27.08%. The firm increased its portfolio allocation in BSRR by 32.26% over the last quarter.
Banc Funds Co holds 426K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 162K shares, representing an increase of 62.12%. The firm decreased its portfolio allocation in BSRR by 99.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 394K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 394K shares, representing an increase of 0.14%. The firm decreased its portfolio allocation in BSRR by 0.54% over the last quarter.
IWM - iShares Russell 2000 ETF holds 361K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 313K shares, representing an increase of 13.22%. The firm increased its portfolio allocation in BSRR by 12.23% over the last quarter.
Sierra Bancorp Background Information
(This description is provided by the company.)
Sierra Bancorp is the holding company for Bank of the Sierra, which is in its 44th year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. Bank of the Sierra is a community-centric regional bank, which offers a broad range of retail and commercial banking services through full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Los Angeles, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through an agricultural credit center, an SBA center, and a dedicated loan production office in Rocklin, California. In 2020, Bank of the Sierra was recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial.
This story originally appeared on Fintel.