Southside Bancshares (SBSI) Set to Announce Quarterly Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) will be announcing its earnings results before the market opens on Thursday, October 24th. Persons interested in registering for the company’s earnings conference call can do so using this link.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, beating the consensus estimate of $0.64 by $0.17. The business had revenue of $115.74 million for the quarter, compared to the consensus estimate of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the prior year, the firm earned $0.82 EPS. 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 Price Performance

Shares of SBSI opened at $34.88 on Thursday. Southside Bancshares has a fifty-two week low of $25.30 and a fifty-two week high of $36.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $1.06 billion, a P/E ratio of 12.97 and a beta of 0.54. The business’s 50-day moving average is $32.93 and its two-hundred day moving average is $29.80.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.36 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.44 annualized dividend and a yield of 4.13%. Southside Bancshares’s dividend payout ratio is presently 53.53%.

Insider Buying and Selling

In other news, insider Jared C. Green sold 864 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the sale, the insider now owns 4,358 shares of the company’s stock, valued at $144,990.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jared C. Green sold 864 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $33.27, for a total value of $28,745.28. Following the completion of the sale, the insider now owns 4,358 shares of the company’s stock, valued at approximately $144,990.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the sale, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,890 shares of company stock worth $500,319. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBSI has been the subject of a number of analyst reports. Hovde Group upped their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th.

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.