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Sierra Bancorp: Long Runway For Growth With An Attractive Entry Point

Aug. 02, 2021 6:26 AM ETSierra Bancorp (BSRR)3 Comments
ALG Research profile picture
ALG Research


  • Continuing to grow the lending portfolio will likely drive incremental profitability improvement.
  • The expense base looks poised to support a larger balance sheet, which will likely drive addition operational leverage.
  • Credit looks solid and has proven to be of little concern the past six years.
California Sierra Nevada Range Inyo National Forest
Ron and Patty Thomas/E+ via Getty Images

Investment Thesis

While my writing has often focused on the more widely known regional banks scattered across the United States, I have gotten feedback that it leaves holes in the asset size spectrum. Being that the biggest growth driver to most banks

This article was written by

ALG Research profile picture
Passionate about the banking space and capital markets. Worked at multiple banks throughout the United States for a long time, specializing in credit and portfolio management.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (3)

Weather Man profile picture
Central valley exposure isn't a plus anymore.
bengalesq profile picture
This one is flat for me. Do you see better names in the sector? What are your thoughts on MSBI (Midland Bancorp)? I've only been in for short of a year but wonder about your thoughts on that.
Thank you for the well reasoned article. The healthy 3.5% yield and solid dividend growth is also appealing. I have done very well on a smaller peer bank to the north: PLBC ($220m mkt cap) which is focused on the exploding Reno/Tahoe and north of Tahoe areas (ie Truckee). I am considering taking some profits for BSRR. Just wondering why BSRR has not performed commensurately or at least competitively relative to peers? Was there bad news in the past 6 months? Thanks again and please take a look at PLBC.
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