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    Sierra Bancorp (BSRR)

    Market Price (11/6/2026): $41.89 | Market Cap: $543.2 MilSector: Financials | Industry: Regional Banks

    Sierra Bancorp (BSRR)

    Market Price (11/6/2026): $41.89
    Market Cap: $543.2 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 12%, 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 6.5%, FCF Yield is 9.4%

    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 -80%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%

    Low stock price volatility
    Vol 12M is 25%

    Trading close to highs
    Dist 52W High is -2.1%, Dist 3Y High is -2.1%

    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 12%, 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 6.5%, FCF Yield is 9.4%
    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 -80%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%
    3 Low stock price volatility
    Vol 12M is 25%
    4 Trading close to highs
    Dist 52W High is -2.1%, Dist 3Y High is -2.1%
    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%
    IWN0.04%
    VTWO0.02%
    DFAS0.01%
    DFAC0.00%
    IWV0.00%

    Valuation & Metrics

    FYE: 12/31BSRR [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$148.7 Mil—
    FY 2026 Sales$158.3 Mil—
    FY 2027 Sales$165.1 Mil—
    FY 2026 Sales Growth6.5%—
    FY 2027 Sales Growth4.3%8.7%
    EARNINGS
    LTM Net Income (GAAP) [3]$50.6 Mil—
    FY 2026 Net Income (Non-GAAP)$52.3 Mil—
    FY 2027 Net Income (Non-GAAP)$53.5 Mil—
    FY 2027 Net Income Growth2.2%13.9%
    FY 2026 EPS (Non-GAAP)$3.85—
    FY 2027 EPS (Non-GAAP)$3.95—
    FY 2027 EPS Growth2.5%—
    VALUATION
    FY 2026 P/S3.41.7
    FY 2027 P/S3.3—
    FY 2026 P/E10.48.7
    FY 2027 P/E10.2—

    [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 11/30/27 (~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 GROWTHPOOR
    Rev LTM ($ Bil)0.1
    Rev Chg Q1.0%8.9%
    Rev Chg LTM5.3%8.6%
    Rev Chg 3Y Avg3.8%6.3%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.1
    CFO/Rev LTM35.0%21.5%
    Net Inc Mgn34.0%13.5%
    VALUATIONLOW
    P/S3.63.3
    P/CFO10.315.7
    P/FCF10.620.6
    P/E10.622.9

    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

    Recent
    10/26/2026Earnings ReleaseRev: $40 Mil (A) vs. $39 Mil (E)
    EPS: 1.18 (A) vs. $0.91 (E)
    11/02/2026DividendAmount: $0.27
    Payment On: 11/09/2026
    Upcoming
    2/01/2027Earnings ReleaseRev: $39 Mil (E)
    EPS: $0.95 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/1/2026

    Sierra Bancorp (BSRR) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Sierra Bancorp's robust fiscal Q3 2026 financial results, which ended September 30, 2026, significantly surpassed analyst expectations. The company reported diluted earnings per share (EPS) of $1.18, a substantial beat over the consensus estimate of $0.91, representing a surprise of approximately 30%. Revenue also exceeded projections, reaching $40.08 million against an estimated $39.23 million. This strong performance addressed concerns from the preceding quarter and showcased improved net interest margin (NIM), which expanded to 3.9% against a 3.7% analyst projection, alongside a 58% year-over-year increase in net income to $15.28 million.

    2. The company announced a new share repurchase program, demonstrating confidence in its valuation and future prospects. On October 23, 2026, Sierra Bancorp's Board of Directors approved a new program to repurchase up to 1,000,000 shares of its outstanding common stock, commencing after the expiration of the previous program on October 31, 2026, and continuing until October 31, 2027. This initiative signals a commitment to returning value to shareholders and can positively impact EPS by reducing the share count.

    Show more
    Updated on 11/1/2026

    Sierra Bancorp (BSRR) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Sierra Bancorp's robust fiscal Q3 2026 financial results, which ended September 30, 2026, significantly surpassed analyst expectations. The company reported diluted earnings per share (EPS) of $1.18, a substantial beat over the consensus estimate of $0.91, representing a surprise of approximately 30%. Revenue also exceeded projections, reaching $40.08 million against an estimated $39.23 million. This strong performance addressed concerns from the preceding quarter and showcased improved net interest margin (NIM), which expanded to 3.9% against a 3.7% analyst projection, alongside a 58% year-over-year increase in net income to $15.28 million.

    2. The company announced a new share repurchase program, demonstrating confidence in its valuation and future prospects. On October 23, 2026, Sierra Bancorp's Board of Directors approved a new program to repurchase up to 1,000,000 shares of its outstanding common stock, commencing after the expiration of the previous program on October 31, 2026, and continuing until October 31, 2027. This initiative signals a commitment to returning value to shareholders and can positively impact EPS by reducing the share count.

    3. Positive adjustments in analyst ratings and price targets bolstered investor sentiment. Following the strong fiscal Q3 2026 results, several analysts revised their outlooks for Sierra Bancorp. Zacks Research upgraded the stock from a "hold" to a "strong-buy" rating on October 28, 2026. Additionally, DA Davidson increased its price target from $47.00 to $48.50 on October 27, 2026, while Keefe, Bruyette & Woods raised their price target from $42.00 to $44.00 on November 3, 2026. These favorable revisions indicate growing analyst confidence in the company's financial health and stock potential.

    4. Sustained strong operational metrics and credit quality contributed to the positive trend. Sierra Bancorp maintained excellent credit quality with net charge-offs holding at 0% in fiscal Q3 2026. Total nonperforming loans of $9.35 million were also below analyst estimates. Furthermore, the bank achieved an improved efficiency ratio of 54.9% and managed its loan portfolio effectively by strategically slowing mortgage warehouse lending while growing commercial real estate loans by an annualized 21%.

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    Stock Movement Drivers

    Fundamental Drivers

    The 4.3% change in BSRR stock from 7/31/2026 to 11/5/2026 was primarily driven by a 12.1% change in the company's Net Income Margin (%).
    (LTM values as of)731202611052026Change
    Stock Price ($)40.2341.964.3%
    Change Contribution By: 
    Total Revenues ($ Mil)1481490.3%
    Net Income Margin (%)30.4%34.0%12.1%
    P/E Multiple11.510.6-7.6%
    Shares Outstanding (Mil)13130.4%
    Cumulative Contribution4.3%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/5/2026
    ReturnCorrelation
    BSRR4.3% 
    Market (SPY)-1.9%19.5%
    Sector (XLF)1.0%40.1%

    Fundamental Drivers

    The 18.7% change in BSRR stock from 4/30/2026 to 11/5/2026 was primarily driven by a 17.8% change in the company's Net Income Margin (%).
    (LTM values as of)430202611052026Change
    Stock Price ($)35.3641.9618.7%
    Change Contribution By: 
    Total Revenues ($ Mil)1461491.5%
    Net Income Margin (%)28.9%34.0%17.8%
    P/E Multiple11.110.6-4.1%
    Shares Outstanding (Mil)13133.5%
    Cumulative Contribution18.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/5/2026
    ReturnCorrelation
    BSRR18.7% 
    Market (SPY)2.3%5.9%
    Sector (XLF)10.7%37.6%

    Fundamental Drivers

    The 51.1% change in BSRR stock from 10/31/2025 to 11/5/2026 was primarily driven by a 20.8% change in the company's Net Income Margin (%).
    (LTM values as of)1031202511052026Change
    Stock Price ($)27.7741.9651.1%
    Change Contribution By: 
    Total Revenues ($ Mil)1411495.3%
    Net Income Margin (%)28.2%34.0%20.8%
    P/E Multiple9.310.613.7%
    Shares Outstanding (Mil)13134.5%
    Cumulative Contribution51.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/5/2026
    ReturnCorrelation
    BSRR51.1% 
    Market (SPY)8.4%19.4%
    Sector (XLF)11.1%43.8%

    Fundamental Drivers

    The 163.6% change in BSRR stock from 10/31/2023 to 11/5/2026 was primarily driven by a 61.5% change in the company's P/E Multiple.
    (LTM values as of)1031202311052026Change
    Stock Price ($)15.9241.96163.6%
    Change Contribution By: 
    Total Revenues ($ Mil)13314911.4%
    Net Income Margin (%)26.8%34.0%27.2%
    P/E Multiple6.610.661.5%
    Shares Outstanding (Mil)151315.2%
    Cumulative Contribution163.6%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/5/2026
    ReturnCorrelation
    BSRR163.6% 
    Market (SPY)81.3%36.8%
    Sector (XLF)85.5%55.0%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    BSRR Return18%-19%11%33%17%32%119%
    Peers Return24%6%-6%8%6%20%69%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    BSRR Win Rate67%33%42%50%58%64% 
    Peers Win Rate60%47%42%55%48%64% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    BSRR Max Drawdown-19%-29%-28%-21%-24%-15% 
    Peers Max Drawdown-22%-19%-44%-22%-22%-14% 
    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 11/5/2026 (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 81% of its 262 Regional Banks peers over 5Y. Regional Banks ranks 8th 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
    79%
    of 281 industry peers · 44.1% return
    3Y
    93%
    of 273 industry peers · 155.2% return
    5Y
    81%
    of 262 industry peers · 92.4% return
    No Regional Banks peer with a comparable growth profile has beaten BSRR by more than 20pp over 5Y.
    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 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
    Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
    Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
    Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
    Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
    Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
    Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
    Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
    Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
    Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
    Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
    Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
    Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
    Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
    Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
    Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
    Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
    Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

    Latest Trefis Analyses

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    Financials

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    Mkt Price41.8922.8852.4259.8717.9564.1547.16
    Mkt Cap0.53.81.71.42.84.32.2
    Rev LTM149574429252863871502
    Op Inc LTM-------
    FCF LTM51572133109364534249
    FCF 3Y Avg44347123121202396163
    CFO LTM52577138111388541263
    CFO 3Y Avg46352128123218402173

    Growth & Margins

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    Rev Chg LTM5.3%20.2%8.8%-8.3%-14.0%14.5%7.1%
    Rev Chg 3Y Avg3.8%1.3%0.3%-6.7%15.9%2.0%1.6%
    Rev Chg Q1.0%42.0%7.9%-2.8%-96.5%13.1%4.5%
    QoQ Delta Rev Chg LTM0.3%10.2%1.9%-0.7%-23.0%3.0%1.1%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM35.0%100.5%32.2%44.2%45.0%62.2%44.6%
    CFO/Rev 3Y Avg32.9%65.3%31.5%44.2%26.6%50.0%38.6%
    FCF/Rev LTM34.1%99.7%31.0%43.1%42.2%61.4%42.7%
    FCF/Rev 3Y Avg32.0%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 Cap0.53.81.71.42.84.32.2
    P/S3.66.73.95.53.24.94.4
    P/Op Inc-------
    P/EBIT-------
    P/E10.618.512.312.6-125.012.412.4
    P/CFO10.36.612.112.57.27.99.1
    Total Yield12.0%8.3%10.9%11.2%1.6%10.3%10.6%
    Dividend Yield2.6%2.9%2.8%3.3%2.4%2.3%2.7%
    FCF Yield 3Y Avg10.3%11.5%8.6%9.3%7.6%11.2%9.8%
    D/E0.30.10.00.01.10.00.1
    Net D/E-0.8-0.2-0.0-1.40.1-0.5-0.3

    Returns

    BSRRCVBFTCBKWABCBANCCATYMedian
    NameSierra B.CVB Fina.TriCo Ba.Westamer.Banc of .Cathay G. 
    1M Rtn6.8%4.5%0.6%2.8%3.0%6.6%3.8%
    3M Rtn3.2%1.7%-8.3%1.1%-4.9%1.3%1.2%
    6M Rtn12.4%13.6%4.6%10.9%-5.2%14.0%11.6%
    12M Rtn43.9%27.3%18.6%30.2%7.9%41.7%28.7%
    3Y Rtn154.8%49.7%64.4%36.1%57.9%91.0%61.1%
    1M Excs Rtn8.7%7.7%3.8%4.9%6.0%10.0%6.9%
    3M Excs Rtn5.0%2.8%-7.0%2.9%-2.6%2.7%2.7%
    6M Excs Rtn7.6%8.8%-0.2%6.1%-10.0%9.2%6.9%
    12M Excs Rtn35.6%15.3%8.0%17.6%-3.7%30.3%16.4%
    3Y Excs Rtn80.0%-17.6%-5.4%-41.1%-9.7%23.9%-7.5%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q4
    Period End9/30/20266/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/2023
    Filing Date10/30/20267/31/20265/1/20262/27/202610/31/20258/1/20255/2/20253/3/202511/7/20248/5/20245/6/20243/22/2024
    Key Financials Quarterly            
    Total Revenue383737373837353236363518
    Net Income151013131011910111096
    EPS1.190.770.960.970.730.780.660.730.750.720.640.43
    Key Financials TTM            
    Total Revenue TTM149148148146141140138139125123120118
    Net Income TTM514546424041404136363535
    Growth Rates Quarterly            
    Total Revenue Growth1.0%-0.3%5.5%16.7%4.1%3.6%-1.1%74.3%7.8%6.5%7.0%-46.7%
    Net Income Growth57.6%-6.7%37.6%24.4%-8.5%3.6%-2.5%64.8%7.3%3.5%6.6%-11.6%
    Margins Quarterly            
    Net Income Margin40.1%26.9%34.3%34.7%25.7%28.8%26.3%32.5%29.3%28.8%26.6%34.4%
    Cash & Debt            
    Total Cash5705996146056927996217578399018611,098
    Total Debt138241271388244263165165165165165315
    Net Debt / (Cash)-432-359-343-217-449-536-455-591-674-736-696-782
    Cash Flows Quarterly            
    FCF from Operations215111415-36412227178
    Cash Flows TTM            
    FCF from Operations TTM52454344254915743355053
    Returns to Shareholders Quarterly            
    Dividends433333433333
    Share Repurchases-05108641472430
    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$41.96 
    Market Cap ($ Bil)0.5 
    First Trading Date05/30/1996 
    Distance from 52W High-2.1% 
       50 Days200 Days
    DMA Price$40.13$37.88
    DMA Trendindeterminateup
    Distance from DMA4.6%10.8%
     3M1YR
    Volatility19.2%24.6%
    Downside Capture-14.1212.19
    Upside Capture24.1460.14
    Correlation (S&P 500)10.0%18.5%
    BSRR Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta-0.050.100.08-0.050.330.82
    Up Beta0.28-0.56-0.05-0.190.310.83
    Down Beta0.780.320.19-0.180.220.78
    Up Capture22%32%16%19%48%79%
    Bmk +ve Days12182862130427
    Stock +ve Days14233366125366
    Down Capture-89%-15%-2%-21%18%90%
    Bmk -ve Days10253664121325
    Stock -ve Days8203160123374

    [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
    BSRR49.6%24.6%1.58-
    Sector ETF (XLF)11.1%15.2%0.4743.7%
    Equity (SPY)9.5%13.6%0.4120.0%
    Gold (GLD)3.6%28.7%0.11-9.0%
    Commodities (DBC)37.7%21.2%1.40-30.0%
    Real Estate (VNQ)12.0%14.2%0.5539.1%
    Bitcoin (BTCUSD)-20.8%43.3%-0.421.1%

    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
    BSRR15.2%30.6%0.49-
    Sector ETF (XLF)9.1%18.4%0.3653.7%
    Equity (SPY)11.3%17.3%0.4838.6%
    Gold (GLD)17.5%19.1%0.74-2.4%
    Commodities (DBC)8.0%19.6%0.291.0%
    Real Estate (VNQ)1.2%18.9%-0.0541.3%
    Bitcoin (BTCUSD)5.9%51.5%0.2915.6%

    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
    BSRR12.4%36.5%0.43-
    Sector ETF (XLF)13.3%22.1%0.5465.0%
    Equity (SPY)14.9%18.0%0.7048.2%
    Gold (GLD)12.0%16.5%0.59-2.5%
    Commodities (DBC)7.6%18.1%0.3314.8%
    Real Estate (VNQ)5.7%20.7%0.2348.4%
    Bitcoin (BTCUSD)61.3%66.2%1.0114.5%

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

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity0.4 Mil
    Short Interest: % Change Since 9302026-3.0%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest7.4 days
    Basic Shares Quantity12.8 Mil
    Short % of Basic Shares3.1%

    Returns Analyses

    Earnings Returns History

    Updated 11/4/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/26/20261.3%0.4% 
    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%
    ...
    SUMMARY STATS   
    # Positive131417
    # Negative11106
    Median Positive1.1%4.1%5.1%
    Median Negative-1.2%-4.6%-4.9%
    Max Positive6.8%16.1%18.1%
    Max Negative-6.8%-10.8%-15.1%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/26/20261.3%0.4% 
    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%
    SUMMARY STATS   
    # Positive131417
    # Negative11106
    Median Positive1.1%4.1%5.1%
    Median Negative-1.2%-4.6%-4.9%
    Max Positive6.8%16.1%18.1%
    Max Negative-6.8%-10.8%-15.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    09/30/202610/30/202610-Q
    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
     Collapse to Preview
    Report DateFiling DateFiling
    09/30/202610/30/202610-Q
    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

    Recent Forward Guidance

    Updated 11/2/2026

    Latest: Q3 2026 Earnings Reported 10/26/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q4 2026 DividendsReported 0.27    

    null

    Insider Activity

    Updated 11/4/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Scearcy, Lynda DirectSell1103202642.158,010337,605685,861Form
    2Treece, Christopher GEVP/Chief Financial OfficerDirectSell1030202642.514,000170,0441,491,924Form
    3Scearcy, Lynda DirectSell1029202642.345,850247,6971,028,162Form
    4McPhaill, Kevin JPresident/CEODirectSell1029202642.854,000171,4132,734,341Form
    5Castle, Julie G DirectSell803202640.701,00040,70348,070Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Scearcy, Lynda DirectSell1103202642.158,010337,605685,861Form
    2Treece, Christopher GEVP/Chief Financial OfficerDirectSell1030202642.514,000170,0441,491,924Form
    3Scearcy, Lynda DirectSell1029202642.345,850247,6971,028,162Form
    4McPhaill, Kevin JPresident/CEODirectSell1029202642.854,000171,4132,734,341Form
    5Castle, Julie G DirectSell803202640.701,00040,70348,070Form
    6Boyle, Hugh FEVP/Chief Credit OfficerDirectSell529202638.2110,000382,091832,232Form
    7Treece, Christopher GEVP/Chief Financial OfficerDirectSell522202638.1810,000381,7681,492,522Form
    8Christenson, Vonn R DirectSell519202638.011,05340,0267,184Form
    9Christenson, Vonn R DirectSell512202638.053,947150,2007,192Form
    10Castle, Julie G DirectSell217202637.522509,38081,831Form
    11Castle, Julie G DirectSell209202637.9375028,45092,216Form
    12Holly, James C DirectSell206202637.935,000189,66611,492,591Form
    13Scearcy, Lynda DirectSell116202635.005,000175,0001,054,645Form
    14Abundis, Susan M DirectSell1211202533.5060020,100254,700Form
    15Scearcy, Lynda DirectSell1210202532.681003,268984,737Form
    16Dabney, Cindy LSVP/Chief Accounting OfficerDirectSell1203202532.003,443110,176206,896Form
    17Dutto, Laurence S DirectBuy1117202528.7840011,511151,662Form
    18Scearcy, Lynda DirectSell1112202530.001,00030,000906,982Form

    Industry Resources

    External Quote Links


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