PORTERVILLE, Calif. (AP) — PORTERVILLE, Calif. (AP) — Sierra Bancorp (BSRR) on Monday reported second-quarter net income of $10.3 million.…
PORTERVILLE, Calif. (AP) — PORTERVILLE, Calif. (AP) — Sierra Bancorp (BSRR) on Monday reported second-quarter net income of $10.3 million.
The bank, based in Porterville, California, said it had earnings of 71 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The parent company of Bank of the Sierra posted revenue of $51.1 million in the period. Its revenue net of interest expense was $37.8 million, also exceeding Street forecasts.
Sierra Bancorp shares have increased 17% since the beginning of the year. The stock has climbed 42% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BSRR at https://www.zacks.com/ap/BSRR
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