Equities analysts predict that Southside Bancshares, Inc. (NASDAQ:SBSI) will post $0.58 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Southside Bancshares’ earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.56. Southside Bancshares posted earnings per share of $0.41 in the same quarter last year, which suggests a positive year over year growth rate of 41.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 5th.
On average, analysts expect that Southside Bancshares will report full-year earnings of $2.19 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $2.21. For the next year, analysts expect that the company will post earnings of $2.31 per share, with EPS estimates ranging from $2.27 to $2.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, October 26th. The bank reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). Southside Bancshares had a net margin of 25.71% and a return on equity of 9.25%. The firm had revenue of $54.82 million during the quarter, compared to analyst estimates of $56.10 million.
A number of equities research analysts have recently weighed in on SBSI shares. BidaskClub raised Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 target price on shares of Southside Bancshares in a research note on Friday, July 27th.
Shares of NASDAQ SBSI traded down $0.36 during trading on Monday, reaching $33.07. The stock had a trading volume of 102,351 shares, compared to its average volume of 128,185. Southside Bancshares has a fifty-two week low of $29.28 and a fifty-two week high of $37.54. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.16 billion, a PE ratio of 17.50 and a beta of 0.84.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 22nd will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.20 annualized dividend and a yield of 3.63%. Southside Bancshares’s payout ratio is 63.49%.
In related news, COO Brian K. Mccabe sold 1,670 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $36.81, for a total transaction of $61,472.70. Following the completion of the transaction, the chief operating officer now directly owns 17,706 shares of the company’s stock, valued at approximately $651,757.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tony K. Morgan bought 2,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were bought at an average cost of $31.15 per share, with a total value of $62,300.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,131 shares of company stock valued at $66,627 over the last three months. 17.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commerce Bank acquired a new position in Southside Bancshares during the 3rd quarter worth $204,000. SG Americas Securities LLC acquired a new position in Southside Bancshares during the 2nd quarter worth $227,000. BlueMountain Capital Management LLC grew its stake in Southside Bancshares by 213.9% during the 2nd quarter. BlueMountain Capital Management LLC now owns 7,117 shares of the bank’s stock worth $240,000 after purchasing an additional 4,850 shares in the last quarter. US Bancorp DE grew its stake in Southside Bancshares by 27.4% during the 2nd quarter. US Bancorp DE now owns 8,081 shares of the bank’s stock worth $272,000 after purchasing an additional 1,736 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Southside Bancshares during the 3rd quarter worth about $274,000. 46.74% of the stock is owned by hedge funds and other institutional investors.
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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