Reported Earnings • Jul 27
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: US$0.77 (down from US$0.78 in 2Q 2025). Revenue: US$36.8m (down 3.2% from 2Q 2025). Net income: US$9.92m (down 6.7% from 2Q 2025). Profit margin: 27% (down from 28% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 27
First quarter dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 3rd August 2026 Payment date: 10th August 2026 Dividend yield will be 2.5%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 6.7% over the next year, which should provide support to the dividend and adequate earnings cover. Annonce • Jul 24
Sierra Bancorp Announces 4% Increase in Quarterly Cash Dividend, Payable on August 10, 2026 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.27 per share. This represents an increase of $0.01 per share, or 4%, relative to the dividend paid last quarter. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended June 30, 2026, and will be paid on August 10, 2026, to shareholders of record as of August 3, 2026. Recent Insider Transactions • May 31
Executive VP & Chief Credit Officer recently sold US$382k worth of stock On the 29th of May, Hugh Boyle sold around 10k shares on-market at roughly US$38.21 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$573k more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 26
Executive VP notifies of intention to sell stock Christopher Treece intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of May. If the sale is conducted around the recent share price of US$38.18, it would amount to US$382k. Since September 2025, Christopher's direct individual holding has increased from 36.88k shares to 39.10k. Company insiders have collectively sold US$668k more than they bought, via options and on-market transactions in the last 12 months. Annonce • Apr 29
Sierra Bancorp Reports Net Charge Offs for the First Quarter Ended March 31, 2026 Sierra Bancorp reported quarterly net charge offs for the first quarter ended March 31, 2026. For the quarter, the company reported net charge offs of $307,000 against recoveries of $259,000 a year ago. Reported Earnings • Apr 28
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: US$0.96 (up from US$0.66 in 1Q 2025). Revenue: US$38.6m (up 11% from 1Q 2025). Net income: US$12.5m (up 38% from 1Q 2025). Profit margin: 33% (up from 26% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 27
New major risk - Revenue and earnings growth Earnings have declined by 0.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Declared Dividend • Apr 27
Fourth quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 4th May 2026 Payment date: 11th May 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (32% payout ratio) and is expected to be well covered in 3 years' time (28% forecast payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • Apr 25
Sierra Bancorp Declares Regular Quarterly Cash Dividend, Payable on May 11, 2026 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.26 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended March 31, 2026, and will be paid on May 11, 2026, to shareholders of record as of May 4, 2026. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today’s announcement marks the Company’s 109th consecutive quarterly cash dividend. Annonce • Apr 08
Sierra Bancorp, Annual General Meeting, May 20, 2026 Sierra Bancorp, Annual General Meeting, May 20, 2026. Location: bank of the sierras sitec, annex building at 61 north second street, portervile 93257, california United States Recent Insider Transactions Derivative • Feb 24
Independent Director exercised options to buy US$180k worth of stock. On the 17th of February, Albert Berra exercised options to buy 5k shares at a strike price of around US$17.25, costing a total of US$86k. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. Since March 2025, Albert's direct individual holding has increased from 274.37k shares to 280.82k. Company insiders have collectively sold US$528k more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Feb 10
Now 22% undervalued Over the last 90 days, the stock has risen 25% to US$36.90. The fair value is estimated to be US$47.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Recent Insider Transactions Derivative • Feb 06
Independent Vice Chairman of the Board notifies of intention to sell stock James Holly intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of February. If the sale is conducted around the recent share price of US$37.93, it would amount to US$190k. Since March 2025, James' direct individual holding has decreased from 353.06k shares to 344.11k. Company insiders have collectively sold US$413k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 03
Full year 2025 earnings released Full year 2025 results: Net income: (down US$40.6m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings have declined by 0.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Price Target Changed • Feb 01
Price target increased by 7.4% to US$35.17 Up from US$32.75, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$35.41. Stock is up 17% over the past year. The company is forecast to post earnings per share of US$3.02 for next year compared to US$2.84 last year. Annonce • Jan 30
Sierra Bancorp Announces Quarterly Cash Dividend, Payable on February 17, 2026 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.26 per share. This represents an increase of $0.01 per share, or 4%, relative to the dividend paid last quarter. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended December 31, 2025, and will be paid on February 17, 2026, to shareholders of record as of February 9, 2026. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today’s announcement marks the Company’s 108th consecutive quarterly cash dividend. Recent Insider Transactions Derivative • Jan 16
Independent Director notifies of intention to sell stock Lynda Scearcy intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of January. If the sale is conducted around the recent share price of US$35.00, it would amount to US$175k. Since March 2025, Lynda's direct individual holding has decreased from 43.98k shares to 41.27k. Company insiders have collectively sold US$414k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 04
Senior VP & Chief Accounting Officer notifies of intention to sell stock Cindy Dabney intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of December. If the sale is conducted around the recent share price of US$32.00, it would amount to US$110k. Since March 2025, Cindy has owned 8.06k shares directly. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Annonce • Nov 11
Sierra Bancorp and Bank of the Sierra Announces Executive Changes On November 5, 2025, Cindy Dabney, Senior Vice President & Chief Accounting Officer, announced her retirement and resignation as Principal Accounting Officer of Sierra Bancorp and its wholly owned subsidiary, Bank of the Sierra (“Bank”) to be effective on January 5, 2026. In connection with Ms. Dabney’s retirement, Christopher Treece, age 57, Executive Vice President & Chief Financial Officer will assume the role of Principal Accounting Officer. Mr. Treece has served as Executive Vice President & Chief Financial Officer of the Company and Bank since January 2020. There will be no changes to Mr. Treece’s compensation as a result of his appointment as Principal Accounting Officer. Reported Earnings • Oct 28
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: US$0.73 (down from US$0.75 in 3Q 2024). Revenue: US$36.3m (down 2.4% from 3Q 2024). Net income: US$9.70m (down 8.5% from 3Q 2024). Profit margin: 27% (down from 28% in 3Q 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Annonce • Oct 27
Sierra Bancorp Reports Unaudited Net Charge Offs Results for the Third Quarter Ended September 30, 2025 Sierra Bancorp reported unaudited net charge offs results for the third quarter ended September 30, 2025. For the quarter, the company reported net charge offs of $209,000 against $170,000 a year ago. Declared Dividend • Oct 27
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 3rd November 2025 Payment date: 14th November 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (31% forecast payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Oct 24
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on November 14, 2025 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended September 30, 2025, and will be paid on November 14, 2025, to shareholders of record as of November 3, 2025. Recent Insider Transactions • Aug 13
Executive VP & Chief Banking Officer recently sold US$103k worth of stock On the 8th of August, Michael Olague sold around 4k shares on-market at roughly US$28.50 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.1m more than they bought in the last 12 months. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.78 (up from US$0.72 in 2Q 2024). Revenue: US$38.0m (up 3.0% from 2Q 2024). Net income: US$10.6m (up 3.6% from 2Q 2024). Profit margin: 28% (in line with 2Q 2024). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Annonce • Jul 29
Sierra Bancorp Reports Net Charge Offs for the Quarter Ended June 30, 2025 Sierra Bancorp reported net charge offs for the quarter Ended June 30, 2025. For the quarter, the company reported net charge offs of $6,580,000 against $2,421,000 a year ago. New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings have declined by 0.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Declared Dividend • Jul 28
First quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 4th August 2025 Payment date: 14th August 2025 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.5% over the next year, which should provide support to the dividend and adequate earnings cover. Annonce • Jul 25
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on August 14, 2025 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended June 30, 2025, and will be paid on August 14, 2025, to shareholders of record as of August 4, 2025. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today’s announcement marks the Company’s 106th consecutive quarterly cash dividend. Annonce • Jul 07
Sierra Bancorp and Bank of the Sierra Appoints William Wade II as Executive Vice President and Chief Operations Officer, Effective July 7, 2025 On July 7, 2025, Sierra Bancorp and its wholly-owned subsidiary, Bank of the Sierra announced that William “Bill” Wade II was appointed as Executive Vice President and Chief Operations Officer, effective July 7, 2025. Mr. Wade, currently 60 years old, holds a Bachelor of Business Administration in Management from the University of Texas at Arlington. Most recently, Mr. Wade was the Chief Information Officer and Executive Vice President of Information Technology for Independent Financial, McKinney, Texas, a position he held from 2021 to present. Independent Financial sold to South State Bank, Winter Haven, Florida effective January 2, 2025. Prior to Independent Financial, he served as Chief Business Architect and Senior Vice President of Information Technology for Simmons Bank, Little Rock, AR from 2018 to 2021. Before joining Simmons Bank, Mr. Wade spent 30 years primarily in the information technology industry working for a variety of industries, including banking, fitness, food services, and consulting. Recent Insider Transactions Derivative • Jul 01
Independent Director notifies of intention to sell stock Lynda Scearcy intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of June. If the sale is conducted around the recent share price of US$30.00, it would amount to US$240k. Since September 2024, Lynda's direct individual holding has increased from 42.72k shares to 43.98k. Company insiders have collectively sold US$4.5m more than they bought, via options and on-market transactions in the last 12 months. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. Independent Director Andujo Gil was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 28
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.66. Revenue: US$34.7m (down 6.7% from 1Q 2024). Net income: US$9.10m (down 2.5% from 1Q 2024). Profit margin: 26% (up from 25% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 1.2%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Declared Dividend • Apr 28
Fourth quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 5th May 2025 Payment date: 15th May 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.2% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • Apr 25
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on May 15, 2025 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended March 31, 2025, and will be paid on May 15, 2025, to shareholders of record as of May 5, 2025. Annonce • Apr 09
Sierra Bancorp, Annual General Meeting, May 21, 2025 Sierra Bancorp, Annual General Meeting, May 21, 2025. Location: bank of the sierra s sitec annex building, 61 north second street, california, porterville United States Reported Earnings • Mar 05
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$2.84 (up from US$2.37 in FY 2023). Revenue: US$146.8m (up 5.5% from FY 2023). Net income: US$40.6m (up 16% from FY 2023). Profit margin: 28% (up from 25% in FY 2023). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.66% (up from 3.37% in FY 2023). Cost-to-income ratio: 60.8% (down from 63.9% in FY 2023). Non-performing loans: 0.84% (up from 0.38% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Recent Insider Transactions Derivative • Feb 11
Executive VP & Chief Banking Officer exercised options and sold US$137k worth of stock On the 7th of February, Michael Olague exercised 19k options at a strike price of around US$17.25 and sold these shares for an average price of US$24.29 per share. This trade did not impact their existing holding. Since March 2024, Michael's direct individual holding has decreased from 72.90k shares to 32.49k. Company insiders have collectively sold US$4.5m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jan 29
Price target increased by 7.0% to US$34.25 Up from US$32.00, the current price target is an average from 4 analysts. New target price is 11% above last closing price of US$30.77. Stock is up 48% over the past year. The company is forecast to post earnings per share of US$2.88 for next year compared to US$2.84 last year. Declared Dividend • Jan 27
Fourth quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (37% payout ratio) and is expected to be well covered in 3 years' time (34% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 1.7% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jan 27
Sierra Bancorp Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2024 Sierra Bancorp reported net charge offs for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge offs of $215,000 against $3,175,000 a year ago. Annonce • Jan 24
Sierra Bancorp Declares Regular Cash Dividend for the Quarter Ended December 31, 2024, Payable on February 14, 2025 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share. This represents an increase of $0.01 per share, or 4%, relative to the dividend paid last quarter. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended December 31, 2024, and will be paid on February 14, 2025, to shareholders of record as of January 31, 2025. Price Target Changed • Dec 19
Price target increased by 7.3% to US$33.25 Up from US$31.00, the current price target is an average from 4 analysts. New target price is 15% above last closing price of US$28.81. Stock is up 29% over the past year. The company is forecast to post earnings per share of US$2.80 for next year compared to US$2.37 last year. Recent Insider Transactions • Dec 09
Independent Chairman of the Board recently sold US$915k worth of stock On the 5th of December, Morris Tharp sold around 30k shares on-market at roughly US$30.50 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Morris has been a net seller over the last 12 months, reducing personal holdings by US$3.2m. Recent Insider Transactions • Nov 29
Independent Chairman of the Board recently sold US$797k worth of stock On the 26th of November, Morris Tharp sold around 25k shares on-market at roughly US$31.52 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Morris has been a net seller over the last 12 months, reducing personal holdings by US$2.2m. Recent Insider Transactions Derivative • Nov 26
Independent Chairman of the Board notifies of intention to sell stock Morris Tharp intends to sell 25k shares in the next 90 days after lodging an Intent To Sell Form on the 25th of November. If the sale is conducted around the recent share price of US$32.66, it would amount to US$826k. Since March 2024, Morris' direct individual holding has decreased from 544.11k shares to 502.87k. Company insiders have collectively sold US$2.7m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Nov 22
Independent Chairman of the Board notifies of intention to sell stock Morris Tharp intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of November. If the sale is conducted around the recent share price of US$31.17, it would amount to US$156k. Since March 2024, Morris' direct individual holding has decreased from 544.11k shares to 501.61k. Company insiders have collectively sold US$2.7m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 17
Independent Chairman of the Board recently sold US$162k worth of stock On the 12th of November, Morris Tharp sold around 5k shares on-market at roughly US$32.45 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Morris has been a net seller over the last 12 months, reducing personal holdings by US$1.4m. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$34.59, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$60.27 per share. Reported Earnings • Oct 21
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: US$0.75 (up from US$0.68 in 3Q 2023). Revenue: US$37.2m (up 3.7% from 3Q 2023). Net income: US$10.6m (up 7.3% from 3Q 2023). Profit margin: 28% (in line with 3Q 2023). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Annonce • Oct 18
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on November 12, 2024 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.24 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended September 30, 2024, and will be paid on November 12, 2024, to shareholders of record as of October 31, 2024. Recent Insider Transactions Derivative • Aug 22
Executive VP & Chief Banking Officer notifies of intention to sell stock Michael Olague intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of August. If the sale is conducted around the recent share price of US$27.70, it would amount to US$86k. Since December 2023, Michael's direct individual holding has decreased from 72.90k shares to 35.64k. Company insiders have collectively sold US$2.5m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jul 31
Independent Chairman of the Board recently sold US$992k worth of stock On the 26th of July, Morris Tharp sold around 33k shares on-market at roughly US$30.52 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Morris' only on-market trade for the last 12 months. Major Estimate Revision • Jul 29
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$148.6m to US$152.1m. EPS estimate increased from US$2.50 to US$2.80 per share. Net income forecast to grow 12% next year vs 5.5% growth forecast for Banks industry in the US. Consensus price target up from US$22.75 to US$29.63. Share price rose 5.6% to US$29.71 over the past week. Recent Insider Transactions Derivative • Jul 28
Independent Chairman of the Board notifies of intention to sell stock Morris Tharp intends to sell 23k shares in the next 90 days after lodging an Intent To Sell Form on the 25th of July. If the sale is conducted around the recent share price of US$30.20, it would amount to US$680k. Since December 2023, Morris' direct individual holding has increased from 525.99k shares to 544.11k. Company insiders have collectively sold US$102k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jul 23
Price target increased by 30% to US$29.63 Up from US$22.75, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$29.64. Stock is up 46% over the past year. The company is forecast to post earnings per share of US$2.80 for next year compared to US$2.37 last year. Annonce • Jul 23
Sierra Bancorp Reports Unaudited Net Charge Offs for the Second Quarter Ended June 30, 2024 Sierra Bancorp reported unaudited net charge offs for the second quarter ended June 30, 2024. For the quarter, the company reported net charge offs of $2,422,000 against $157,000 a year ago. Declared Dividend • Jul 22
First quarter dividend increased to US$0.24 Dividend of US$0.24 is 4.3% higher than last year. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 4.4% over the next year, which should provide support to the dividend and adequate earnings cover. Annonce • Jul 20
Sierra Bancorp Announces Quarterly Cash Dividend, Payable on August 15, 2024 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.24 per share. This represents an increase of $0.01 per share, or 4%, relative to the dividend paid last quarter. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended June 30, 2024, and will be paid on August 15, 2024, to shareholders of record as of July 31, 2024. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$25.31, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$47.83 per share. Annonce • Apr 23
Sierra Bancorp Announces Net Charge Offs for the Quarter Ended March 31, 2024 Sierra Bancorp announced net charge offs for the quarter ended March 31, 2024. For the quarter, the company reported Quarterly net charge offs of $457,000 against $220,000 a year ago. Annonce • Apr 20
Sierra Bancorp Declares Regular Quarterly Cash Dividend for the Quarter Ended March 31, 2024, Payable on May 13, 2024 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended March 31, 2024, and will be paid on May 13, 2024, to shareholders of record as of April 30, 2024. Annonce • Apr 10
Sierra Bancorp, Annual General Meeting, May 22, 2024 Sierra Bancorp, Annual General Meeting, May 22, 2024, at 09:00 Pacific Standard Time. Agenda: To consider Election of Directors; to consider approve, on an advisory and non-binding basis, the compensation paid to the Company’s Named Executive Officers; and to transact such other business as may properly come before the Meeting and any and all adjournments thereof. Annonce • Mar 17
Sierra Bancorp announced delayed annual 10-K filing On 03/15/2024, Sierra Bancorp announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Jan 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$2.37 (up from US$2.25 in FY 2022). Revenue: US$139.1m (up 7.3% from FY 2022). Net income: US$34.8m (up 3.5% from FY 2022). Profit margin: 25% (in line with FY 2022). Net interest margin (NIM): 3.37% (down from 3.47% in FY 2022). Cost-to-income ratio: 63.9% (up from 60.2% in FY 2022). Non-performing loans: 0.38% (down from 0.95% in FY 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 8.0%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Jan 23
Upcoming dividend of US$0.23 per share at 4.2% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 12 February 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.3%). Annonce • Jan 19
Sierra Bancorp Declares a Regular Quarterly Cash Dividend for the Quarter Ended December 31, 2023, Payable on February 12, 2024 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended December 31, 2023, and will be paid on February 12, 2024, to shareholders of record as of January 31, 2024. Price Target Changed • Jan 10
Price target increased by 7.9% to US$24.00 Up from US$22.25, the current price target is an average from 4 analysts. New target price is 12% above last closing price of US$21.47. Stock is up 2.0% over the past year. The company is forecast to post earnings per share of US$2.57 for next year compared to US$2.25 last year. New Risk • Oct 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 23
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: US$0.68. Revenue: US$35.9m (up 4.7% from 3Q 2022). Net income: US$9.89m (flat on 3Q 2022). Profit margin: 28% (down from 29% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 1.5%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Annonce • Oct 21
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on November 14, 2023 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.23per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended September 30, 2023, and will be paid on November 14, 2023, to shareholders of record as of October 31, 2023. Annonce • Aug 31
Sierra Bancorp and Bank of the Sierra Announces Executive Changes Sierra Bancorp, parent of Bank of the Sierra announced that Natalia Coen has been named Executive Vice President and Chief Risk Officer for both the Company and the Bank. As its sixth executive officer, Coen will oversee the Bank’s risk management program. Coen has more than 18 years of experience in the banking industry. Prior to joining Bank of the Sierra, she was Chief Risk and Compliance Officer for Gateway First Bank in Jenks, Oklahoma. In this position, Coen managed Gateway’s enterprise risk management framework, which included establishing its risk monitoring, metrics, and tolerance. She also previously served as Senior Vice President and Director of Compliance for CoBiz Financial, and its subsidiary CoBiz Bank, in Denver. Coen graduated with a master’s degree in international economic policy studies from the Middlebury Institute of International Studies at Monterey and a bachelor’s degree in economics from the University of Texas at Austin. Coen has an extensive history of voluntary leadership across numerous organizations. She previously served as a CRCM (Certified Regulatory Compliance Manager) Advisory Board Member with the American Bankers Association. Coen was also Board Treasurer, and later Board President, for the Colorado Compliance Professionals Association. She also served as Board Treasurer and a Finance Committee Member for The Action Center. Further, Hugh Boyle will continue as Chief Credit Officer for Sierra Bancorp and Bank of the Sierra, a role he has held since joining the Company in 2020. After an executive leadership change in 2021, Boyle stepped up to accept the combined role of Chief Credit and Chief Risk Officer. Over the last two years, he has worked tirelessly to improve and strengthen the Bank’s culture and enterprise risk management framework while also maintaining his duties within credit and lending. After successfully serving both executive officer positions, Boyle’s return to exclusively focusing on credit will allow him more time to support the Bank’s strategic initiatives of both diversification and growth in lending. He will also lead the transition with Coen to oversee the enterprise risk management department. Price Target Changed • Jul 25
Price target increased by 18% to US$22.70 Up from US$19.20, the current price target is an average from 5 analysts. New target price is 12% above last closing price of US$20.34. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of US$2.57 for next year compared to US$2.25 last year. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 24
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: US$0.67 (up from US$0.62 in 2Q 2022). Revenue: US$36.4m (up 5.2% from 2Q 2022). Net income: US$9.92m (up 7.8% from 2Q 2022). Profit margin: 27% (in line with 2Q 2022). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Annonce • Jul 23
Sierra Bancorp Declares Cash Dividend for the Quarter Ended June 30, 2023, Payable on August 14, 2023 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended June 30, 2023, and will be paid on August 14, 2023, to shareholders of record as of July 31, 2023. New Risk • Jun 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Price Target Changed • Jun 08
Price target decreased by 9.5% to US$18.90 Down from US$20.88, the current price target is an average from 5 analysts. New target price is 10% above last closing price of US$17.12. Stock is down 22% over the past year. The company is forecast to post earnings per share of US$2.39 for next year compared to US$2.25 last year. Price Target Changed • Apr 08
Price target decreased by 7.2% to US$22.00 Down from US$23.70, the current price target is an average from 4 analysts. New target price is 33% above last closing price of US$16.59. Stock is down 30% over the past year. The company is forecast to post earnings per share of US$2.67 for next year compared to US$2.25 last year. Reported Earnings • Jan 31
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: US$2.25 (down from US$2.82 in FY 2021). Revenue: US$129.7m (down 7.8% from FY 2021). Net income: US$33.7m (down 22% from FY 2021). Profit margin: 26% (down from 31% in FY 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 9.3%. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annonce • Jan 31
Sierra Bancorp Reports Unaudited Net Charge Offs for Fourth Quarter Ended December 31, 2022 Sierra Bancorp reported unaudited net charge offs for fourth quarter ended December 31, 2022. For the quarter, the company reported net charge offs of $11,549,000 as compared to net recoveries of $168,000 a year ago. Annonce • Jan 21
Sierra Bancorp Declares Quarterly Cash Dividend, Payable on February 13, 2023 Sierra Bancorp announced that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share. The dividend was approved subsequent to the Board's review of the Company's financial performance and capital for the quarter ended December 31, 2022, and will be paid on February 13, 2023, to shareholders of record as of January 31, 2023. Recent Insider Transactions Derivative • Nov 16
Independent Vice Chairman of the Board exercised options and sold US$60k worth of stock On the 10th of November, James Holly exercised 5k options at a strike price of around US$10.21 and sold these shares for an average price of US$22.14 per share. This trade did not impact their existing holding. Since December 2021, James has owned 380.31k shares directly. Company insiders have collectively bought US$129k more than they sold, via options and on-market transactions, in the last 12 months.