Southside Bancshares (SBSI) Expected to Announce Earnings on Friday

Southside Bancshares (NASDAQ:SBSI) is expected to be issuing its quarterly earnings data before the market opens on Friday, January 24th. Analysts expect the company to announce earnings of $0.72 per share and revenue of $68,260.00 billion for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The business had revenue of $113.87 million for 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 18.94%. During the same period last year, the firm earned $0.60 earnings per share. On average, analysts expect Southside Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $31.83 on Thursday. The firm has a fifty day moving average of $33.35 and a two-hundred day moving average of $33.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $964.80 million, a price-to-earnings ratio of 11.49 and a beta of 0.58. Southside Bancshares has a 52 week low of $25.30 and a 52 week high of $38.00.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.44 annualized dividend and a dividend yield of 4.52%. Southside Bancshares’s payout ratio is currently 51.99%.

Insider Activity at Southside Bancshares

In other Southside Bancshares news, insider Suni M. Davis sold 2,220 shares of Southside Bancshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total value of $79,920.00. Following the sale, the insider now directly owns 9,202 shares in the company, valued at approximately $331,272. The trade was a 19.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the sale, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

SBSI has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They set a “market perform” rating for the company. StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

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.