Sierra Bancorp: Q1 Earnings Snapshot
PORTERVILLE, Calif. (AP) _ Sierra Bancorp (BSRR) on Monday reported first-quarter net income of $7.4 million.
The bank, based in Porterville, California, said it had earnings of 49 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The parent company of Bank of the Sierra posted revenue of $32.1 million in the period. Its revenue net of interest expense was $30.8 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $33.6 million.
Sierra Bancorp shares have decreased 11% since the beginning of the year. The stock has fallen 13% in the last 12 months.