Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Stockholders of record on Thursday, November 22nd will be paid a dividend of 0.30 per share by the bank on Thursday, December 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, November 20th.
Southside Bancshares has increased its dividend by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 20 years. Southside Bancshares has a dividend payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Southside Bancshares to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 51.9%.
Shares of NASDAQ SBSI traded down $0.36 during midday trading on Friday, reaching $33.07. The stock had a trading volume of 98,568 shares, compared to its average volume of 146,075. The company has a market capitalization of $1.16 billion, a P/E ratio of 17.50 and a beta of 0.84. Southside Bancshares has a twelve month low of $29.28 and a twelve month high of $37.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, October 26th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The firm had revenue of $54.82 million during the quarter, compared to analyst estimates of $56.10 million. Southside Bancshares had a return on equity of 9.25% and a net margin of 25.71%. Analysts forecast that Southside Bancshares will post 2.19 earnings per share for the current year.
In other Southside Bancshares news, COO Brian K. Mccabe sold 1,670 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $36.81, for a total transaction of $61,472.70. Following the completion of the sale, the chief operating officer now owns 17,706 shares in the company, valued at approximately $651,757.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy F. Alexander sold 16,007 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $35.36, for a total transaction of $566,007.52. Following the sale, the insider now owns 11,780 shares of the company’s stock, valued at approximately $416,540.80. The disclosure for this sale can be found here. Insiders bought a total of 2,131 shares of company stock valued at $66,627 in the last quarter. 17.20% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on SBSI shares. BidaskClub upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price objective on shares of Southside Bancshares in a research note on Friday, July 27th.
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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 deposit.
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