It depends on the size of the congregation, but yes, a bishop is a local leader for a ward, while a president would be the local leader for a branch. Both have the same functions really, just for more or less people.

I don't know how they compare to a pastor in the Methodist church, though a lot of what they are ultimately responsible for is delegated to different leaders and the members at large that a pastor might take on themselves.

Like, there's no one person or only two or three, maybe, that might give a sermon. Everyone has a chance to talk at some point, including children and youth. In fact, the bishop may only speak once a year at a ward conference. Bishops do take turns conducting our sacrament meetings (which is when everyone is together) with their counselors, and might have something to announce or talk about on occasion.