Southside Bancshares (NASDAQ:SBSI) Issues Earnings Results

Southside Bancshares (NASDAQ:SBSI) released its quarterly earnings results on Thursday. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.05), Briefing.com reports. The firm had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the prior year, the business earned $0.60 EPS.

Southside Bancshares Price Performance

NASDAQ:SBSI opened at $32.50 on Friday. Southside Bancshares has a 52-week low of $25.30 and a 52-week high of $36.10. The company has a market cap of $983.78 million, a P/E ratio of 12.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $33.28 and its 200 day simple moving average is $30.11.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.43%. Southside Bancshares’s dividend payout ratio is 53.53%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the transaction, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Southside Bancshares news, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the completion of the sale, the insider now owns 16,441 shares in the company, valued at $554,226.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jared C. Green sold 864 shares of Southside Bancshares stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total value of $28,745.28. Following the transaction, the insider now owns 4,358 shares of the company’s stock, valued at $144,990.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,890 shares of company stock worth $500,319 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBSI. StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Hovde Group raised their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

About Southside Bancshares

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposits.