Stock Analysis Report

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Executive Summary

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. More Details


Trading at 42.7% below our estimate of its fair value

Earnings are forecast to grow 5.56% per year

Pays a reliable dividend of 3.52%

Risk Analysis

No risks detected for BSRR from our risk checks.

Snowflake Analysis

Flawless balance sheet established dividend payer.

Similar Companies

Share Price & News

How has Sierra Bancorp's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: BSRR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: BSRR's weekly volatility has decreased from 11% to 5% over the past year.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: BSRR underperformed the US Banks industry which returned 19.8% over the past year.

Return vs Market: BSRR underperformed the US Market which returned 38.5% over the past year.

Shareholder returns

7 Day-1.8%-0.2%-3.6%
30 Day6.8%13.5%0.9%
90 Day5.5%22.3%6.7%
1 Year4.2%0.1%24.3%19.9%39.4%36.4%
3 Year-2.5%-11.1%11.7%2.2%53.4%43.5%
5 Year41.2%22.8%92.0%67.7%117.3%93.0%

Long-Term Price Volatility Vs. Market

How volatile is Sierra Bancorp's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Sierra Bancorp undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: BSRR ($23.85) is trading below our estimate of fair value ($41.65)

Significantly Below Fair Value: BSRR is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: BSRR is good value based on its PE Ratio (10.2x) compared to the US Banks industry average (12.5x).

PE vs Market: BSRR is good value based on its PE Ratio (10.2x) compared to the US market (21.3x).

Price to Earnings Growth Ratio

PEG Ratio: BSRR is poor value based on its PEG Ratio (1.8x)

Price to Book Ratio

PB vs Industry: BSRR's PB Ratio (1.1x) is in line with the US Banks industry average.

Next Steps

Future Growth

How is Sierra Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BSRR's forecast earnings growth (5.6% per year) is above the savings rate (2%).

Earnings vs Market: BSRR's earnings (5.6% per year) are forecast to grow slower than the US market (20.3% per year).

High Growth Earnings: BSRR's earnings are forecast to grow, but not significantly.

Revenue vs Market: BSRR's revenue (8.5% per year) is forecast to grow slower than the US market (10.4% per year).

High Growth Revenue: BSRR's revenue (8.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BSRR's Return on Equity is forecast to be low in 3 years time (10.6%).

Next Steps

Past Performance

How has Sierra Bancorp performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BSRR has high quality earnings.

Growing Profit Margin: BSRR's current net profit margins (28.9%) are lower than last year (30.4%).

Past Earnings Growth Analysis

Earnings Trend: BSRR's earnings have grown by 17.8% per year over the past 5 years.

Accelerating Growth: BSRR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BSRR had negative earnings growth (-1.4%) over the past year, making it difficult to compare to the Banks industry average (0.6%).

Return on Equity

High ROE: BSRR's Return on Equity (10.3%) is considered low.

Next Steps

Financial Health

How is Sierra Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: BSRR's Assets to Equity ratio (9.4x) is low.

Allowance for Bad Loans: BSRR has a sufficient allowance for bad loans (233%).

Low Risk Liabilities: 91% of BSRR's liabilities are made up of primarily low risk sources of funding.

Loan Level: BSRR has an appropriate level of Loans to Assets ratio (76%).

Low Risk Deposits: BSRR's Loans to Deposits ratio (93%) is appropriate.

Level of Bad Loans: BSRR has an appropriate level of bad loans (0.3%).

Next Steps


What is Sierra Bancorp current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BSRR's dividend (3.52%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: BSRR's dividend (3.52%) is low compared to the top 25% of dividend payers in the US market (3.76%).

Stability and Growth of Payments

Stable Dividend: BSRR's dividends per share have been stable in the past 10 years.

Growing Dividend: BSRR's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34.3%), BSRR's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: BSRR's dividends in 3 years are forecast to be well covered by earnings (33.1% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Kevin McPhaill (47 yo)





Mr. Kevin J. McPhaill has been President and Chief Executive Officer of Bank of the Sierra and of Sierra Bancorp since April 1, 2015 and their Director since January 1, 2015. He has been employed in the ba...

CEO Compensation Analysis

Compensation vs Market: Kevin's total compensation ($USD1.06M) is about average for companies of similar size in the US market ($USD1.50M).

Compensation vs Earnings: Kevin's compensation has been consistent with company performance over the past year.

Leadership Team

Kevin McPhaill
$ 1.2m
Michael Olague
Executive VP & Chief Banking Officer6.08yrsUS$559.91k0.39%
$ 1.4m
Matthew Macia
Executive VP & Chief Risk Officer1.92yrsUS$699.59k0.14%
$ 531.0k
Christopher Treece
Executive VP & CFO1.08yrsno data0.14%
$ 530.0k
Cindy Dabney
Senior VP & Chief Accounting Officer1.08yrsno data0.025%
$ 90.8k
Jennifer Johnson
Executive VP & Chief Administrative Officer1yrno data0.14%
$ 530.0k
Hugh Boyle
Executive VP & Chief Credit Officer0.17yrno datano data
Alexandra Blazar
Secretary3.08yrsno datano data


Average Tenure


Average Age

Experienced Management: BSRR's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Kevin McPhaill
$ 1.2m
Albert Berra
Independent Director21.08yrsUS$113.62k1.79%
$ 6.6m
James Holly
Vice Chairman of the Board5.83yrsUS$147.91k2.57%
$ 9.4m
Morris Tharp
Independent Chairman of the Board21.08yrsUS$109.06k3.47%
$ 12.7m
Gordon Woods
Independent Director21.08yrsUS$101.47k0.15%
$ 556.5k
Lynda Scearcy
Independent Director13.17yrsUS$101.20k0.15%
$ 538.2k
Robb Evans
Independent Director4.42yrsUS$82.80k0.18%
$ 675.7k
Julie Castle
Director0.17yrno data0.026%
$ 95.4k
Laurence Dutton
Independent Director4.42yrsUS$74.40k0.055%
$ 200.4k
Vonn Christenson
Independent Director4.42yrsUS$76.20k0.029%
$ 108.1k
Susan Abundis
Director0.17yrno datano data


Average Tenure


Average Age

Experienced Board: BSRR's board of directors are considered experienced (5.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: BSRR insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Sierra Bancorp's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Sierra Bancorp
  • Ticker: BSRR
  • Exchange: NasdaqGS
  • Founded: 1977
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$367.014m
  • Shares outstanding: 15.39m
  • Website:

Number of Employees


  • Sierra Bancorp
  • 86 North Main Street
  • Porterville
  • California
  • 93257
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BSRRNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDNov 1994


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. The company accepts various depo...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/28 00:33
End of Day Share Price2021/02/26 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.