Southside Bancshares (NASDAQ:SBSI) Releases Earnings Results, Misses Estimates By $0.05 EPS

Southside Bancshares (NASDAQ:SBSI) issued 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. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. The company had revenue of $113.87 million for the quarter, compared to analysts’ expectations of $68.25 million. During the same quarter in the previous year, the business earned $0.60 EPS.

Southside Bancshares Price Performance

Shares of NASDAQ:SBSI opened at $32.50 on Friday. The company has a 50 day moving average of $33.28 and a 200 day moving average of $30.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The stock has a market cap of $983.78 million, a P/E ratio of 12.08 and a beta of 0.54. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $36.10.

Southside Bancshares Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com lowered Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Hovde Group increased their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insiders Place Their Bets

In other news, insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the transaction, the insider now directly owns 16,441 shares in the company, 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 at this link. In related news, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the sale, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at $852,174.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,890 shares of company stock worth $500,319 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Southside Bancshares Company Profile

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.