5. Sierra Bancorp
Shares of Sierra Bancorp (BSRR) of Porterville, Calif., closed at $9.04 Friday, returning 4% year-to-date, following a 16% decline during 2011. Based on a quarterly payout of six cents, the shares have a dividend yield of 2.65%.
The shares trade for 77% of tangible book value, and for 12 times the consensus 2013 earnings estimate of 70 cents. The consensus 2012 EPS estimate is 55 cents.Sierra Bancorp had $1.3 billion in total assets as of March 31. The company reported first-quarter earnings of $1.9 million, or 13 cents a share, increasing from $1.5 million, or 11 cents a share, in the fourth quarter, and $1.5 million, or 11 cents a share, in the first quarter of 2011. The fourth quarter results included "$2.529 million in write-downs on other real estate owned (OREO), and a $1.370 million other-than-temporary impairment (OTTI) charge against equity investment securities which was offset by $1.660 million in gains taken on the sale of mortgage-backed securities," according to the company." The year-over-year earnings improvement reflected a decline in the provision for loan losses to $2.8 million from $3.6 million. The company's ROA has ranged from 0.46% to 0.75% over the past five quarters, according to Thomson Reuters Bank Insight. The company's ratio of nonperforming assets to total assets was a rather high 7.69% as of March 31. KBW analyst Jacquelynne Chimera on May 23 upgraded Sierra Bancorp to "Outperform," with a $12 price target, saying the discount to book value for the shares -- closing at $8.59 that day -- was not warranted "given the company's core income generation capabilities," adding that "Sierra pays a cash dividend, while the majority of its peers do not." Interested in more on Sierra Bancorp? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV