Sierra Bancorp (BSRR) Declares $0.23 Dividend

Sierra Bancorp said on July 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.

Shareholders of record as of July 31, 2023 will receive the payment on August 14, 2023.

At the current share price of $21.48 / share, the stock's dividend yield is 4.28%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.60%, the lowest has been 2.07%, and the highest has been 5.94%. The standard deviation of yields is 0.89 (n=236).

The current dividend yield is 0.77 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.38. 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.

What is the Fund Sentiment?

There are 237 funds or institutions reporting positions in Sierra Bancorp. This is a decrease of 6 owner(s) or 2.47% in the last quarter. Average portfolio weight of all funds dedicated to BSRR is 0.04%, an increase of 13.04%. Total shares owned by institutions decreased in the last three months by 3.26% to 9,431K shares. The put/call ratio of BSRR is 1.29, indicating a bearish outlook.

Analyst Price Forecast Suggests 8.83% Downside

As of July 6, 2023, the average one-year price target for Sierra Bancorp is 19.58. The forecasts range from a low of 16.66 to a high of $22.05. The average price target represents a decrease of 8.83% from its latest reported closing price of 21.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sierra Bancorp is 155MM, an increase of 14.31%. The projected annual non-GAAP EPS is 2.90.

What are Other Shareholders Doing?

Private Management Group holds 543K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 538K shares, representing an increase of 0.91%. The firm decreased its portfolio allocation in BSRR by 17.09% over the last quarter.

Manufacturers Life Insurance Company, The holds 453K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 461K shares, representing a decrease of 1.63%. The firm decreased its portfolio allocation in BSRR by 28.54% over the last quarter.

Banc Funds Co holds 437K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 426K shares, representing an increase of 2.35%. The firm increased its portfolio allocation in BSRR by 100,363.97% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 394K shares representing 2.70% ownership of the company. No change in the last quarter.

IWM - iShares Russell 2000 ETF holds 324K shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 361K shares, representing a decrease of 11.56%. The firm decreased its portfolio allocation in BSRR by 24.08% 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.

Additional reading:

• SIERRA BANCORP REPORTS IMPROVED FINANCIAL RESULTS FOR SECOND QUARTER AND FIRST SIX MONTHS OF 2023
• ###################################
• POWERS OF ATTORNEY
• 2023 EQUITY BASED COMPENSATION PLAN
• Split Dollar Agreement for Albert Berra

This story originally appeared on Fintel.