Southside Bancshares (NASDAQ:SBSI) Posts Earnings Results, Misses Expectations By $0.05 EPS

Southside Bancshares (NASDAQ:SBSI) posted its quarterly earnings data on Thursday. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05), Briefing.com reports. The company had revenue of $113.87 million for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.60 EPS.

Southside Bancshares Trading Down 0.8 %

NASDAQ SBSI opened at $32.50 on Friday. The company has a market cap of $983.78 million, a P/E ratio of 12.08 and a beta of 0.54. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $36.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50-day moving average of $33.28 and a 200-day moving average of $30.10.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s payout ratio is 53.53%.

Insider Buying and Selling

In related news, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the transaction, the insider now owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jared C. Green sold 864 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total value of $28,745.28. Following the transaction, the insider now directly owns 4,358 shares in the company, valued at $144,990.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $33.71, for a total value of $157,324.57. Following the sale, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,890 shares of company stock valued at $500,319. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

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

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.