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

Southside Bancshares (NASDAQ:SBSI) announced 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 the consensus estimate of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. During the same quarter in the previous year, the company posted $0.60 EPS.

Southside Bancshares Stock Down 0.8 %

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

Southside Bancshares Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity at Southside Bancshares

In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at $520,028.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at $852,174.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the sale, the insider now owns 16,441 shares in the company, valued at $520,028.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,890 shares of company stock valued at $500,319. 5.90% of the stock is owned by 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.