Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

On Aug 14, Zacks Investment Research upgraded Sierra Bancorp (BSRR - Snapshot Report) to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

Sierra Bancorp has been witnessing rising earnings estimates on the back of strong second-quarter 2013 results. Moreover, this bank holding company has delivered an average earnings beat of 18.7% in the last 4 quarters. The expected earnings growth rate for this stock for 2013 is 33.6%.

The company reported second-quarter results on Jul 22 with earnings per share of 27 cents, beating the Zacks Consensus Estimate by 92.9%. Further, it beat the prior-year quarter earnings of 18 cents by 50.0%. Robust results for the reported quarter were primarily aided by a substantial reduction in provision for loan losses. This was partly offset by lower non-interest as well as net interest income.

Credit quality continues to exhibit an improvement for Sierra Bancorp. The provision for loan losses was $0.8 million compared with $1.1 million in the prior-year quarter. Net charge-offs fell 78.1% to $1.5 million in the quarter.

However, on the downside, net interest income fell 2.2% year over year to $12.3 million. Net interest margin was 4.04%, down 21 basis points from the year-ago quarter. Non-interest income declined 2.4% year over year to $4.0 million. Non-interest expense rose 2.2% from the year-ago period to $10.7 million.

Following second-quarter 2013 results, the Zacks Consensus Estimate for 2013 increased 23.8% to 78 cents per share on the back of upward revisions in both estimates over the last 30 days. For 2014, the Zacks Consensus Estimate advanced 13.7% to 83 cents per share, with both the estimates moving north over the same time period.

Other Stocks to Consider

Apart from Sierra Bancorp, other stocks with a Zacks Rank #1 include Banner Corporation (BANR - Snapshot Report), Washington Federal Inc. (WAFD - Analyst Report) and WSFS Financial Corp. (WSFS - Snapshot Report).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%