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    Sierra Bancorp (BSRR)

    Market Price (9/21/2026): $40.11 | Market Cap: $515.3 MilSector: Financials | Industry: Regional Banks

    Sierra Bancorp (BSRR)

    Market Price (9/21/2026): $40.11
    Market Cap: $515.3 Mil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 8.6%

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -69%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%

    Low stock price volatility
    Vol 12M is 26%

    Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -0.3%

    Key risks
    BSRR key risks include [1] its heavy credit concentration in agricultural loans, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 8.6%
    1 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -69%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
    3 Low stock price volatility
    Vol 12M is 26%
    4 Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -0.3%
    5 Key risks
    BSRR key risks include [1] its heavy credit concentration in agricultural loans, Show more.

    BSRR in ETFs

    Weight = BSRR's share of each fund

    VTI0.00%
    IWM0.02%
    AVUV0.05%
    VTWO0.01%
    DFAS0.01%
    IWN0.00%
    DFAC0.00%
    IWV0.00%

    Valuation & Metrics

    FYE: 12/31BSRR [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$148.3 Mil—
    FY 2026 Sales$156.7 Mil—
    FY 2027 Sales$161.7 Mil—
    FY 2026 Sales Growth5.6%—
    FY 2027 Sales Growth3.2%12.9%
    EARNINGS
    LTM Net Income (GAAP) [3]$45.0 Mil—
    FY 2026 Net Income (Non-GAAP)$48.5 Mil—
    FY 2027 Net Income (Non-GAAP)$49.0 Mil—
    FY 2027 Net Income Growth1.1%18.1%
    FY 2026 EPS (Non-GAAP)$3.56—
    FY 2027 EPS (Non-GAAP)$3.78—
    FY 2027 EPS Growth6.4%—
    VALUATION
    FY 2026 P/S3.31.6
    FY 2027 P/S3.2—
    FY 2026 P/E10.67.4
    FY 2027 P/E10.5—

    [1] BSRR forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 9/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    BSRRS&P 500
    REVENUE GROWTH 
    Rev LTM ($ Bil)0.1
    Rev Chg Q-0.3%9.1%
    Rev Chg LTM6.1%8.3%
    Rev Chg 3Y Avg4.0%5.8%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.0
    Net Inc LTM ($ Bil)0.0
    CFO/Rev LTM30.7%21.8%
    Net Inc Mgn30.4%13.1%
    VALUATIONLOW
    P/S3.53.1
    P/CFO11.314.7
    P/FCF11.519.1
    P/E11.422.4

    AI Analysis | Feedback

    MetricValueDateSource
    Net Interest Margin3.78%9302025Link
    Efficiency Ratio (tax-equivalent)58.0%9302025Link
    Tangible Book Value per Share$24.669302025Link
    Total Non-performing loans$19.67 million12312024Link
    Net Charge-Offs (% of Average Loans)0%12312024Link
    Noninterest-bearing deposits as a percentage of total deposits35%12312024Link
    Return on average assets1.13%12312024Link
    Return on average equity11.49%12312024Link
    Loan Yield5.36%9302025Link
    Cost of Funds1.45%9302025Link
    Common Equity Tier 1 (CET1) capital ratio11.80%12312024Link

    Price Chart

    Upcoming
    10/26/2026Earnings ReleaseRev: $39 Mil (E)
    EPS: $0.90 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 9/1/2026

    Sierra Bancorp (BSRR) stock has gained about 5% since 5/31/2026 because of the following key factors:

    1. Strong First-Half Financial Performance Despite Quarterly Miss.

    Sierra Bancorp reported diluted earnings per share (EPS) for the first six months of 2026 increased by $0.29, or 20%, to $1.72 per diluted share, compared to the same period in the prior year. The company also saw its return on average assets rise to 1.24% from 1.09%, and its return on average equity expanded to 12.38% from 11.26% during the first half of fiscal 2026. Furthermore, its net interest margin remained strong at 3.75%, an increase of four basis points from 3.71%, and the efficiency ratio improved to 57.70% from 60.00% over the same period. While the reported second quarter of fiscal 2026 EPS of $0.77 missed consensus estimates of $0.89 and quarterly net income decreased 7% year-over-year to $9.9 million, the market appears to have focused on the robust year-to-date performance.

    2. Increase in Quarterly Cash Dividend.

    On July 24, 2026, Sierra Bancorp announced a 4% increase in its regular quarterly cash dividend to $0.27 per share, payable on August 10, 2026. This marks the company's 110th consecutive quarterly cash dividend, signaling financial stability and a continued commitment to returning value to shareholders.

    Show more
    Updated on 9/1/2026

    Sierra Bancorp (BSRR) stock has gained about 5% since 5/31/2026 because of the following key factors:

    1. Strong First-Half Financial Performance Despite Quarterly Miss.

    Sierra Bancorp reported diluted earnings per share (EPS) for the first six months of 2026 increased by $0.29, or 20%, to $1.72 per diluted share, compared to the same period in the prior year. The company also saw its return on average assets rise to 1.24% from 1.09%, and its return on average equity expanded to 12.38% from 11.26% during the first half of fiscal 2026. Furthermore, its net interest margin remained strong at 3.75%, an increase of four basis points from 3.71%, and the efficiency ratio improved to 57.70% from 60.00% over the same period. While the reported second quarter of fiscal 2026 EPS of $0.77 missed consensus estimates of $0.89 and quarterly net income decreased 7% year-over-year to $9.9 million, the market appears to have focused on the robust year-to-date performance.

    2. Increase in Quarterly Cash Dividend.

    On July 24, 2026, Sierra Bancorp announced a 4% increase in its regular quarterly cash dividend to $0.27 per share, payable on August 10, 2026. This marks the company's 110th consecutive quarterly cash dividend, signaling financial stability and a continued commitment to returning value to shareholders.

    3. Significant Institutional Investment.

    BlackRock Inc. acquired a substantial new position in Sierra Bancorp during the second quarter of fiscal 2026, purchasing 1,306,403 shares valued at approximately $53,249,000. This significant institutional investment, representing approximately 10.08% of Sierra Bancorp, indicates strong confidence from a major asset manager and likely contributed to positive buying pressure.

    4. Ongoing Share Repurchase Program.

    The company continued its share repurchase program, repurchasing 396,429 shares of stock during the first half of fiscal 2026. This activity falls under a program approved on October 24, 2025, authorizing the repurchase of up to 1,000,000 shares until October 31, 2026, indicating management's belief in the company's intrinsic value and its efforts to enhance shareholder returns.

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    Stock Movement Drivers

    Fundamental Drivers

    The 6.5% change in BSRR stock from 5/31/2026 to 9/20/2026 was primarily driven by a 7.0% change in the company's P/E Multiple.
    (LTM values as of)53120269202026Change
    Stock Price ($)37.7340.196.5%
    Change Contribution By: 
    Total Revenues ($ Mil)148148-0.1%
    Net Income Margin (%)30.8%30.4%-1.5%
    P/E Multiple10.711.57.0%
    Shares Outstanding (Mil)13131.1%
    Cumulative Contribution6.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    5/31/2026 to 9/20/2026
    ReturnCorrelation
    BSRR6.5% 
    Market (SPY)0.9%-10.6%
    Sector (XLF)8.3%37.6%

    Fundamental Drivers

    The 13.3% change in BSRR stock from 2/28/2026 to 9/20/2026 was primarily driven by a 5.1% change in the company's Net Income Margin (%).
    (LTM values as of)22820269202026Change
    Stock Price ($)35.4940.1913.3%
    Change Contribution By: 
    Total Revenues ($ Mil)1461481.2%
    Net Income Margin (%)28.9%30.4%5.1%
    P/E Multiple11.111.53.3%
    Shares Outstanding (Mil)13133.0%
    Cumulative Contribution13.3%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    2/28/2026 to 9/20/2026
    ReturnCorrelation
    BSRR13.3% 
    Market (SPY)11.6%17.5%
    Sector (XLF)9.2%38.5%

    Fundamental Drivers

    The 35.0% change in BSRR stock from 8/31/2025 to 9/20/2026 was primarily driven by a 15.6% change in the company's P/E Multiple.
    (LTM values as of)83120259202026Change
    Stock Price ($)29.7740.1935.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1401486.1%
    Net Income Margin (%)29.1%30.4%4.2%
    P/E Multiple9.911.515.6%
    Shares Outstanding (Mil)14135.6%
    Cumulative Contribution35.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2025 to 9/20/2026
    ReturnCorrelation
    BSRR35.0% 
    Market (SPY)19.4%21.2%
    Sector (XLF)4.7%44.5%

    Fundamental Drivers

    The 125.0% change in BSRR stock from 8/31/2023 to 9/20/2026 was primarily driven by a 55.6% change in the company's P/E Multiple.
    (LTM values as of)83120239202026Change
    Stock Price ($)17.8640.19125.0%
    Change Contribution By: 
    Total Revenues ($ Mil)13314811.1%
    Net Income Margin (%)26.8%30.4%13.4%
    P/E Multiple7.411.555.6%
    Shares Outstanding (Mil)151314.7%
    Cumulative Contribution125.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2023 to 9/20/2026
    ReturnCorrelation
    BSRR125.0% 
    Market (SPY)75.6%37.8%
    Sector (XLF)69.8%55.5%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    BSRR Return18%-19%11%33%17%26%110%
    Peers Return24%6%-6%8%6%20%69%
    S&P 500 Return27%-19%24%23%16%12%103%

    Monthly Win Rates [3]
    BSRR Win Rate67%33%42%50%58%67% 
    Peers Win Rate60%47%42%55%48%73% 
    S&P 500 Win Rate75%42%67%75%67%44% 

    Max Drawdowns [4]
    BSRR Max Drawdown-19%-29%-28%-21%-24%-15% 
    Peers Max Drawdown-22%-19%-44%-22%-22%-13% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: CVBF, TCBK, WABC, BANC, CATY.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 9/18/2026 (YTD)

    How Low Can It Go

    EventBSRRS&P 500
    2025 US Tariff Shock
      % Loss-22.2%-18.8%
      % Gain to Breakeven28.6%23.1%
      Time to Breakeven82 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-12.7%-9.5%
      % Gain to Breakeven14.5%10.5%
      Time to Breakeven40 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-25.2%-6.7%
      % Gain to Breakeven33.6%7.1%
      Time to Breakeven71 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-25.3%-24.5%
      % Gain to Breakeven33.9%32.4%
      Time to Breakeven651 days427 days
    2020 COVID-19 Crash
      % Loss-51.5%-33.7%
      % Gain to Breakeven106.1%50.9%
      Time to Breakeven352 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-19.1%-19.2%
      % Gain to Breakeven23.7%23.8%
      Time to Breakeven310 days105 days

    Compare to CVBF, TCBK, WABC, BANC, CATY

    In The Past

    Sierra Bancorp's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.6% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventBSRRS&P 500
    2025 US Tariff Shock
      % Loss-22.2%-18.8%
      % Gain to Breakeven28.6%23.1%
      Time to Breakeven82 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-25.2%-6.7%
      % Gain to Breakeven33.6%7.1%
      Time to Breakeven71 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-25.3%-24.5%
      % Gain to Breakeven33.9%32.4%
      Time to Breakeven651 days427 days
    2020 COVID-19 Crash
      % Loss-51.5%-33.7%
      % Gain to Breakeven106.1%50.9%
      Time to Breakeven352 days140 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-25.2%-17.9%
      % Gain to Breakeven33.6%21.8%
      Time to Breakeven350 days123 days
    2008-2009 Global Financial Crisis
      % Loss-76.3%-53.4%
      % Gain to Breakeven322.4%114.4%
      Time to Breakeven2821 days1085 days

    Compare to CVBF, TCBK, WABC, BANC, CATY

    In The Past

    Sierra Bancorp's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.6% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Sierra Bancorp (BSRR)

    Sierra Bancorp, operating as the bank holding company for Bank of the Sierra, is a California-based financial institution providing comprehensive retail and commercial banking services. It primarily serves individuals and businesses across various communities in California through its network of physical branches, an online branch, and specialized centers for loan production and agricultural credit.

    The company's core offerings include a variety of deposit products, such as checking accounts, savings accounts, money market demand accounts, and time deposits. On the lending side, Bank of the Sierra provides a diverse portfolio of loans, including agricultural, commercial, consumer, real estate, construction, and mortgage loans. Additionally, it offers modern banking conveniences like automated teller machines, electronic payment options, online and automated telephone banking, and business-specific services such as remote deposit capture and automated payroll.

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Sierra Bancorp (BSRR):

    • Like a regional version of Wells Fargo for California.
    • A community-focused Bank of America operating in specific parts of California.

    AI Analysis | Feedback

    • Deposit Accounts: The bank offers various accounts such as checking, savings, money market, and time deposits for individuals and businesses to securely store and manage their funds.
    • Loan Services: The company provides a range of loan products, including agricultural, commercial, consumer, real estate, construction, and mortgage loans, to meet the financing needs of its customers.
    • Digital and Convenience Banking Services: Sierra Bancorp offers modern banking conveniences like automated teller machines, online and telephone banking, electronic point-of-sale payment options, and specialized business services such as remote deposit capture and automated payroll.

    AI Analysis | Feedback

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    Sierra Bancorp (BSRR) primarily serves individuals and businesses in California with banking and financial services. Its customer base can be categorized as follows:

    • Individuals: These customers utilize the bank for retail banking services such as checking accounts, savings accounts, money market accounts, time deposits, retirement accounts, consumer loans, and mortgage loans. They also leverage services like ATMs, online banking, and automated telephone banking.
    • Businesses: This category includes various commercial enterprises (excluding agricultural) that use the bank for commercial loans, real estate loans, construction loans, business checking/savings accounts, remote deposit capture, and automated payroll services. These are typically small to medium-sized businesses operating within California.
    • Agricultural Businesses/Entities: Given the explicit mention of "agricultural loans" and an "agricultural credit center," a significant segment of BSRR's customer base consists of businesses and entities operating in the agricultural sector, particularly in California's Central Valley where the bank has a strong presence.
    ```

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    Fiserv, Inc. (FISV)

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    Kevin J. McPhaill, President and Chief Executive Officer

    Kevin J. McPhaill has served as the President and Chief Executive Officer of Sierra Bancorp and Bank of the Sierra since April 1, 2015, and as a Director since January 1, 2015. He grew up in Tulare County, California, and holds an undergraduate degree from Fresno Pacific University, an MBA with a Finance concentration from Fresno State University, and a diploma from the Graduate School of Banking at Southern Methodist University. McPhaill has over two decades of experience in the banking industry, including 14 years with Bank of the Sierra prior to becoming CEO. His previous roles include President and Chief Operating Officer at Bank of the Sierra, Branch Manager at Kings River State Bank (1995-2000), and Loan Officer at Visalia Community Bank (1990-1995). He succeeded James C. Holly, the founding CEO, in 2015.

    Christopher G. Treece, Executive Vice President and Chief Financial Officer

    Christopher G. Treece is the Executive Vice President and Chief Financial Officer of Sierra Bancorp and Bank of the Sierra, and also serves as the Principal Accounting Officer. He holds a Bachelor's degree in Accounting and a Masters of Accountancy from Truman State University. Prior to his current role, Treece served as Chief Financial Officer at Guaranty Bank and Trust, a position he was promoted to in July 2011, having been Corporate Controller there since 2007, and also served as a director of Guaranty Bank since 2009.

    Michael W. Olague, Executive Vice President and Chief Banking Officer

    Michael W. Olague is the Executive Vice President and Chief Banking Officer for Sierra Bancorp. He brings over 37 years of banking experience to his role. Before becoming Chief Banking Officer, he was the Senior Vice President and Area Manager for Bank of the Sierra's Bakersfield and Delano markets. His career also includes roles as SVP Regional Manager at Bank of America Corp and Regional President at Rabobank. Olague is a graduate of California State University Bakersfield and completed Graduate Banking School at the University of Virginia.

    Hugh F. Boyle, Executive Vice President and Chief Credit Officer

    Hugh F. Boyle serves as the Executive Vice President and Chief Credit Officer for Sierra Bancorp. He joined the company in 2020. Previously, Boyle held positions such as Chief Credit Officer at JPMorgan Chase & Co, Executive Vice President and Chief Risk Officer at Banc of California, Inc., and Chief Risk Officer at First Caribbean International Bank Ltd. He attended Penn State University.

    William J. Wade II, Executive Vice President and Chief Operations Officer

    William J. Wade II was appointed Executive Vice President and Chief Operations Officer, effective July 7, 2025. He holds a Bachelor of Business Administration in Management from the University of Texas at Arlington. Wade's career spans over 30 years, primarily in the information technology sector within various industries. Before joining Sierra Bancorp, he served as Chief Information Officer and Executive Vice President of Information Technology for Independent Financial from 2021 until the company was acquired by South State Bank on January 2, 2025. Prior to that, he was Chief Business Architect and Senior Vice President of Information Technology at Simmons Bank from 2018 to 2021.

    AI Analysis | Feedback

    The key risks to Sierra Bancorp's business are as follows:

    1. Interest Rate Risk

    Sierra Bancorp is significantly exposed to interest rate risk, which can adversely affect its profitability. Changes in market interest rates can impact the company's net interest income, the value of its investment portfolio, and the ability of borrowers to repay their loans. Elevated interest rates have already led to a decrease in the value of the company's securities portfolio, potentially resulting in realized losses if liquidity needs arise.

    2. Commercial Real Estate (CRE) Loan Concentration

    A substantial portion of Sierra Bancorp's loan portfolio is concentrated in real estate, with commercial real estate constituting 54.6% of total gross loans and 72% of loans secured by property as of December 31, 2025. This concentration exposes the company to risks associated with downturns in the real estate market, rising office vacancy rates due to remote work trends, and the necessity for borrowers to refinance at potentially higher rates. The broader California banking sector also faces a notable overexposure to CRE loans.

    3. Competitive Market and Fintech Competition

    The banking industry in California is highly competitive, with major national banks and rapidly evolving financial technology (fintech) companies presenting significant challenges. This intense competition can limit Sierra Bancorp's ability to attract and retain customers, potentially leading to increased funding costs and reduced profitability.

    AI Analysis | Feedback

    The clear emerging threat for Sierra Bancorp is the increasing competition from digital-first banks (often referred to as neobanks) and financial technology (fintech) companies, including the growing presence of large technology companies in financial services. These competitors operate with significantly lower overhead due to minimal or no physical branch networks, allowing them to offer more competitive interest rates on deposits, lower fees, and often a superior, more convenient digital-first user experience. This trend directly challenges the traditional brick-and-mortar banking model employed by Sierra Bancorp, potentially eroding its deposit base and market share in various loan categories, particularly among younger, tech-savvy customers seeking more agile and accessible financial services.

    AI Analysis | Feedback

    Addressable Markets for Sierra Bancorp's Main Products and Services in California

    Sierra Bancorp, operating as Bank of the Sierra, provides retail and commercial banking services to individuals and businesses primarily within California. The addressable markets for its main products and services in California are substantial:

    • The Commercial Banking industry in California is estimated at $143.0 billion in 2026. This industry encompasses financial services provided to retail and business clients, including commercial, industrial, and consumer loans, as well as the acceptance of deposits.
    • For real estate and mortgage loans, over $237 billion in home loans were originated in California in 2024. The Real Estate Loans & Collateralized Debt industry in California is projected to be $62.3 billion in 2026.
    • In agricultural lending, the value generated by California agriculture reached almost $60 billion in 2023, signifying the substantial economic activity that agricultural loans support within the state.
    • For consumer loans, finance lenders originated $145.4 billion in California in 2021. Californians held approximately $30 billion in personal loan debt as of late 2024.

    AI Analysis | Feedback

    Sierra Bancorp (BSRR) is expected to drive future revenue growth over the next two to three years through several key strategic initiatives and market focuses:

    • Organic Loan Growth, particularly in Mortgage Warehouse and Commercial Real Estate: Sierra Bancorp has demonstrated a strategic focus on expanding its loan portfolio, especially within mortgage warehouse lines and commercial real estate. The company anticipated mid-single-digit loan growth for 2026, building on a 9% annualized growth rate in total loans during 2025, largely driven by strategic enhancements to its mortgage warehouse program.
    • Enhancing Commercial Deposit Growth and Optimizing Deposit Mix: The company aims to improve its net interest margin by focusing on the growth of low-cost deposits, particularly commercial deposits. Strategic balance sheet management includes efforts to reduce higher-cost brokered deposits and increase noninterest-bearing deposits, which constituted a significant portion of total deposits in 2025.
    • Leveraging Technology to Enhance Customer Access and Convenience: Sierra Bancorp plans to continue investing in technology to improve customer access and convenience. This initiative is aimed at enhancing the overall customer experience across all touchpoints, which can lead to deeper customer relationships and potentially new customer acquisition, thereby supporting revenue growth.
    • Strategic Acquisitions and Geographic Expansion: The company's future outlook includes exploring opportunities for growth through acquisitions within its existing operational footprint or through expansion into new geographic areas. This strategy, consistent with its historical growth through acquisitions, aims to broaden its market presence and customer base.

    AI Analysis | Feedback

    Share Repurchases

    • Sierra Bancorp authorized a new share repurchase program on October 24, 2025, allowing for the repurchase of up to 1,000,000 shares of its common stock, effective from November 1, 2025, to October 31, 2026. This program replaced a prior authorization from October 17, 2024, which also covered 1,000,000 shares.
    • The company repurchased $30.8 million of its own shares during 2025.
    • Notable quarterly share repurchases include $14.47 million in March 2025 and $7.51 million in December 2025.

    Capital Expenditures

    • Capital expenditures for the fiscal year 2024 totaled $1.156 million.
    • For the latest twelve months ending June 2025, capital expenditures amounted to $1.331 million, with $451,000 expended in the quarter ending June 2025.
    • A primary focus for capital expenditures is technology investments in digital platforms, which are considered crucial for competing in modern banking.

    Peer Outperformance in Regional Banks

    BSRR has outperformed 80% of its 264 Regional Banks peers over 5Y. Among the peers that beat it is BPOP. Regional Banks ranks 7th of 18 industries in Financials by median 5Y return.
    Share of Regional Banks constituents that BSRR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    75%
    of 288 industry peers · 36.7% return
    3Y
    82%
    of 277 industry peers · 132.5% return
    5Y
    80%
    of 264 industry peers · 115.5% return
    Regional Banks peers with revenue growth within 4pp of BSRR's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
    Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
    BSRR Sierra Bancorp 4.0% 11.5x 36.7%132.5%115.5% —
    BPOP Popular 2.8% 10.7x 29.5%183.6%160.6% +45pp
    Price returns, excluding dividends. P/E shown for context only and not used for matching.
    Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is BSRR's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Reinsurance 6 24.2%70.6%133.7% SPNT 170% · RGA 154% · RNR 140%
    Investment Banking & Brokerage 13 -1.7%105.1%116.5% IBKR 527% · SNEX 257% · HOOD 183%
    Diversified Banks 12 27.5%129.8%116.3% CM 161% · JPM 159% · RY 149%
    Life & Health Insurance 20 8.6%57.6%105.8% JXN 534% · UNM 373% · FG 207%
    Multi-Sector Holdings 4 6.8%50.2%87.3% JONE 361% · VOYA 88% · BRK-B 87%
    Property & Casualty Insurance 42 9.6%67.5%67.8% ASIC 2760900% · HRTG 445% · UVE 331%
    Regional Banks ← 265 23.9%91.7%67.1% ESQ 391% · GCBC 340% · VBNK 335%
    Multi-line Insurance 9 8.8%71.2%64.1% GNW 201% · L 112% · SLF 104%
    Financial Exchanges & Data 15 -0.1%17.4%32.7% VIRT 184% · CBOE 135% · CME 83%
    Diversified Financial Services 4 -7.3%22.1%32.6% FRHC 168% · EQH 119% · TMS -54%
    Consumer Finance 30 1.7%89.6%26.9% ENVA 447% · EZPW 319% · FCFS 168%
    Insurance Brokers 16 -15.1%-6.3%20.3% LIFE 200% · ARX 87% · AJG 70%
    Commercial & Residential Mortgage Finance 14 -50.2%32.8%13.9% FNMA 454% · FMCC 436% · ACT 204%
    Asset Management & Custody Banks 84 -11.7%17.6%12.0% WT 348% · SII 279% · VCTR 274%
    Specialized Finance 3 14.0%42.2%-2.8% EFC 27% · CACC -3% · HASI -16%
    Mortgage REITs 33 -13.0%7.4%-16.5% NREF 53% · RITM 42% · DX 34%
    Transaction & Payment Processing Services 15 -1.0%-5.9%-42.9% V 74% · MA 73% · CPAY 58%
    Diversified Capital Markets 20 -36.3%20.7%-48.1% OPY 196% · LPLA 136% · GOLD 90%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

    Latest Trefis Analyses

    TitleDate
    0DASHBOARDS 
    1Can Sierra Bancorp Stock Hold Up When Markets Turn?10/17/2025
    Title
    0ARTICLES

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    Financials

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    Mkt Price40.1922.7053.6160.7018.3262.2546.90
    Mkt Cap0.53.81.71.42.94.22.3
    Rev LTM148574429252863871502
    Op Inc LTM-------
    FCF LTM45572133109364534249
    FCF 3Y Avg44347123121202396163
    CFO LTM45577138111388541263
    CFO 3Y Avg45352128123218402173

    Growth & Margins

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    Rev Chg LTM6.1%20.2%8.8%-8.3%-14.0%14.5%7.5%
    Rev Chg 3Y Avg4.0%1.3%0.3%-6.7%15.9%2.0%1.6%
    Rev Chg Q-0.3%42.0%7.9%-2.8%-96.5%13.1%3.8%
    QoQ Delta Rev Chg LTM-0.1%10.2%1.9%-0.7%-23.0%3.0%0.9%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM30.7%100.5%32.2%44.2%45.0%62.2%44.6%
    CFO/Rev 3Y Avg32.7%65.3%31.5%44.2%26.6%50.0%38.5%
    FCF/Rev LTM30.1%99.7%31.0%43.1%42.2%61.4%42.7%
    FCF/Rev 3Y Avg31.8%64.4%30.3%43.5%24.0%49.3%37.7%

    Valuation

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    Mkt Cap0.53.81.71.42.94.22.3
    P/S3.56.64.05.63.34.84.4
    P/Op Inc-------
    P/EBIT-------
    P/E11.518.312.612.8-127.612.012.3
    P/CFO11.46.612.412.77.47.79.5
    Total Yield11.4%8.3%10.6%11.1%1.6%10.6%10.6%
    Dividend Yield2.6%2.9%2.7%3.2%2.4%2.3%2.7%
    FCF Yield 3Y Avg10.7%11.2%8.6%9.3%7.4%11.7%10.0%
    D/E0.50.10.00.01.10.00.1
    Net D/E-0.7-0.2-0.0-1.40.1-0.5-0.3

    Returns

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    1M Rtn0.7%0.6%-2.0%3.8%-1.1%0.5%0.6%
    3M Rtn2.4%10.1%5.0%6.0%-8.2%6.0%5.5%
    6M Rtn25.6%24.4%18.0%24.4%10.2%31.8%24.4%
    12M Rtn36.7%18.5%22.1%28.0%11.4%29.9%25.1%
    3Y Rtn132.5%56.8%86.0%58.8%65.5%93.4%75.8%
    1M Excs Rtn1.9%1.5%-2.5%5.2%-1.9%0.9%1.2%
    3M Excs Rtn0.4%8.1%3.0%4.0%-10.2%4.0%3.5%
    6M Excs Rtn7.8%6.8%0.7%6.7%-5.5%16.9%6.8%
    12M Excs Rtn22.6%4.9%6.6%13.9%-1.7%15.6%10.2%
    3Y Excs Rtn58.5%-21.7%10.8%-15.3%-11.7%17.7%-0.5%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date7/31/20265/1/20262/27/202610/31/20258/1/20255/2/20253/3/202511/7/20248/5/20245/6/20243/22/202411/2/2023
    Key Financials Quarterly            
    Total Revenue373737383735323636351834
    Net Income101313101191011109610
    EPS0.770.960.970.730.780.660.730.750.720.640.430.68
    Key Financials TTM            
    Total Revenue TTM148148146141140138139125123120118134
    Net Income TTM454642404140413636353536
    Growth Rates Quarterly            
    Total Revenue Growth-0.3%5.5%16.7%4.1%3.6%-1.1%74.3%7.8%6.5%7.0%-46.7%2.3%
    Net Income Growth-6.7%37.6%24.4%-8.5%3.6%-2.5%64.8%7.3%3.5%6.6%-11.6%-0.5%
    Margins Quarterly            
    Net Income Margin26.9%34.3%34.7%25.7%28.8%26.3%32.5%29.3%28.8%26.6%34.4%29.4%
    Cash & Debt            
    Total Cash5996146056927996217578399018611,0981,099
    Total Debt241271388244263165165165165165315402
    Net Debt / (Cash)-359-343-217-449-536-455-591-674-736-696-782-697
    Cash Flows Quarterly            
    FCF from Operations5111415-3641222717820
    Cash Flows TTM            
    FCF from Operations TTM45434425491574335505346
    Returns to Shareholders Quarterly            
    Dividends333334333333
    Share Repurchases51086414724302
    Return on Invested Capital (ROIC) Quarterly            
    ROIC------------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM------------

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Community banking146139118130 
    Single Segment    127
    Total146139118130127


    Price Behavior

    Price Behavior
    Market Price$40.19 
    Market Cap ($ Bil)0.5 
    First Trading Date05/30/1996 
    Distance from 52W High-5.6% 
       50 Days200 Days
    DMA Price$40.62$36.85
    DMA Trendupup
    Distance from DMA-1.1%9.1%
     3M1YR
    Volatility17.9%25.3%
    Downside Capture-9.7128.87
    Upside Capture3.9060.50
    Correlation (SPY)-10.4%20.7%
    BSRR Betas & Captures as of 8/31/2026

     1M2M3M6M1Y3Y
    Beta0.120.06-0.210.270.430.85
    Up Beta0.300.18-0.390.270.420.84
    Down Beta-0.23-0.58-0.53-0.100.300.81
    Up Capture-12%-2%9%41%51%82%
    Bmk +ve Days10213268138427
    Stock +ve Days10203464120361
    Down Capture38%43%-15%36%43%93%
    Bmk -ve Days11213259113324
    Stock -ve Days11223062127378

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with BSRR
    BSRR38.7%25.6%1.23-
    Sector ETF (XLF)4.5%14.6%0.0843.8%
    Equity (SPY)16.9%12.9%0.9420.8%
    Gold (GLD)19.1%29.3%0.60-13.4%
    Commodities (DBC)46.3%20.6%1.73-28.3%
    Real Estate (VNQ)4.9%13.6%0.1032.0%
    Bitcoin (BTCUSD)-30.6%44.3%-0.703.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with BSRR
    BSRR15.7%30.5%0.51-
    Sector ETF (XLF)10.1%18.4%0.4154.0%
    Equity (SPY)12.9%17.2%0.5738.9%
    Gold (GLD)19.1%18.8%0.83-3.1%
    Commodities (DBC)11.2%19.5%0.452.0%
    Real Estate (VNQ)1.1%18.8%-0.0540.8%
    Bitcoin (BTCUSD)12.5%52.5%0.4215.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with BSRR
    BSRR11.8%36.5%0.41-
    Sector ETF (XLF)12.9%22.1%0.5365.1%
    Equity (SPY)15.1%18.0%0.7248.4%
    Gold (GLD)12.1%16.4%0.61-2.7%
    Commodities (DBC)8.3%18.1%0.3715.0%
    Real Estate (VNQ)4.4%20.7%0.1848.1%
    Bitcoin (BTCUSD)62.6%66.2%1.0214.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date8312026
    Short Interest: Shares Quantity0.4 Mil
    Short Interest: % Change Since 81520267.5%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest7.9 days
    Basic Shares Quantity12.8 Mil
    Short % of Basic Shares3.3%

    Returns Analyses

    Earnings Returns History

    Updated 8/27/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/27/2026-1.7%-2.7%-4.7%
    4/27/20262.2%0.8%6.7%
    2/2/20264.9%7.0%1.2%
    10/27/20251.1%5.4%11.3%
    7/28/20251.1%-6.3%0.8%
    4/28/20250.6%4.2%6.9%
    1/27/2025-0.1%1.3%3.0%
    10/21/2024-6.8%-5.9%5.1%
    ...
    SUMMARY STATS   
    # Positive131418
    # Negative11106
    Median Positive1.1%4.4%5.2%
    Median Negative-1.2%-4.6%-4.9%
    Max Positive6.8%16.1%20.4%
    Max Negative-6.8%-10.8%-15.1%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/27/2026-1.7%-2.7%-4.7%
    4/27/20262.2%0.8%6.7%
    2/2/20264.9%7.0%1.2%
    10/27/20251.1%5.4%11.3%
    7/28/20251.1%-6.3%0.8%
    4/28/20250.6%4.2%6.9%
    1/27/2025-0.1%1.3%3.0%
    10/21/2024-6.8%-5.9%5.1%
    7/22/20246.3%12.3%7.9%
    4/22/20241.0%9.3%18.1%
    1/29/2024-0.3%-10.8%-15.1%
    10/23/20232.0%-3.1%4.5%
    7/24/20236.8%16.1%12.2%
    4/24/2023-0.1%3.9%3.9%
    1/30/2023-1.2%-0.6%-5.1%
    10/24/2022-0.6%3.0%0.2%
    7/25/2022-0.5%3.9%1.2%
    4/25/2022-4.6%-9.2%-11.6%
    1/24/20220.1%-1.6%-1.7%
    10/25/20210.5%1.5%9.6%
    7/19/2021-3.8%-3.3%-1.2%
    4/19/20210.4%4.5%4.9%
    1/25/2021-3.2%-9.1%5.4%
    10/19/20205.5%14.7%20.4%
    SUMMARY STATS   
    # Positive131418
    # Negative11106
    Median Positive1.1%4.4%5.2%
    Median Negative-1.2%-4.6%-4.9%
    Max Positive6.8%16.1%20.4%
    Max Negative-6.8%-10.8%-15.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202607/31/202610-Q
    03/31/202605/01/202610-Q
    12/31/202502/27/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/02/202510-Q
    12/31/202403/03/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/05/202410-Q
    03/31/202405/06/202410-Q
    12/31/202303/22/202410-K
    09/30/202311/02/202310-Q
    06/30/202308/03/202310-Q
    03/31/202305/05/202310-Q
    12/31/202203/09/202310-K
    09/30/202211/03/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202607/31/202610-Q
    03/31/202605/01/202610-Q
    12/31/202502/27/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/02/202510-Q
    12/31/202403/03/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/05/202410-Q
    03/31/202405/06/202410-Q
    12/31/202303/22/202410-K
    09/30/202311/02/202310-Q
    06/30/202308/03/202310-Q
    03/31/202305/05/202310-Q
    12/31/202203/09/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/04/202210-Q
    03/31/202205/05/202210-Q
    12/31/202103/10/202210-K
    09/30/202111/04/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/06/202110-Q
    12/31/202003/12/202110-K
    09/30/202011/05/202010-Q
    06/30/202008/06/202010-Q
    03/31/202005/07/202010-Q
    12/31/201903/12/202010-K
    09/30/201911/07/201910-Q

    Insider Activity

    Updated 8/3/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Castle, Julie G DirectSell803202640.701,00040,70348,070Form
    2Boyle, Hugh FEVP/Chief Credit OfficerDirectSell529202638.2110,000382,091832,232Form
    3Treece, Christopher GEVP/Chief Financial OfficerDirectSell522202638.1810,000381,7681,492,522Form
    4Christenson, Vonn R DirectSell519202638.011,05340,0267,184Form
    5Christenson, Vonn R DirectSell512202638.053,947150,2007,192Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Castle, Julie G DirectSell803202640.701,00040,70348,070Form
    2Boyle, Hugh FEVP/Chief Credit OfficerDirectSell529202638.2110,000382,091832,232Form
    3Treece, Christopher GEVP/Chief Financial OfficerDirectSell522202638.1810,000381,7681,492,522Form
    4Christenson, Vonn R DirectSell519202638.011,05340,0267,184Form
    5Christenson, Vonn R DirectSell512202638.053,947150,2007,192Form
    6Castle, Julie G DirectSell217202637.522509,38081,831Form
    7Castle, Julie G DirectSell209202637.9375028,45092,216Form
    8Holly, James C DirectSell206202637.935,000189,66611,492,591Form
    9Scearcy, Lynda DirectSell116202635.005,000175,0001,054,645Form
    10Abundis, Susan M DirectSell1211202533.5060020,100254,700Form
    11Scearcy, Lynda DirectSell1210202532.681003,268984,737Form
    12Dabney, Cindy LSVP/Chief Accounting OfficerDirectSell1203202532.003,443110,176206,896Form
    13Dutto, Laurence S DirectBuy1117202528.7840011,511151,662Form
    14Scearcy, Lynda DirectSell1112202530.001,00030,000906,982Form
    15Olague, MichaelEVP/Chief Banking OfficerDirectSell811202528.419,193261,163250,254Form
    16Castle, Julie G DirectSell804202529.2597628,54893,044Form

    Industry Resources

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