Southside Bancshares, Inc. (NASDAQ:SBSI) Expected to Post Earnings of $0.69 Per Share

Equities research analysts expect that Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating) will report earnings per share of $0.69 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Southside Bancshares’ earnings, with estimates ranging from $0.67 to $0.71. Southside Bancshares posted earnings per share of $1.06 during the same quarter last year, which indicates a negative year-over-year growth rate of 34.9%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Southside Bancshares will report full-year earnings of $2.95 per share for the current fiscal year, with EPS estimates ranging from $2.91 to $2.98. For the next financial year, analysts anticipate that the firm will post earnings of $3.14 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Southside Bancshares.

Southside Bancshares (NASDAQ:SBSIGet Rating) last posted its earnings results on Friday, January 28th. The bank reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.13. Southside Bancshares had a return on equity of 12.87% and a net margin of 42.74%. The business had revenue of $64.50 million for the quarter, compared to analysts’ expectations of $62.76 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year.

A number of equities analysts have issued reports on the company. Stephens started coverage on Southside Bancshares in a research report on Monday, December 20th. They issued an “equal weight” rating and a $45.00 target price on the stock. Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, February 2nd. Finally, initiated coverage on Southside Bancshares in a report on Thursday, March 31st. They set a “hold” rating for the company.

In related news, COO Brian K. Mccabe sold 1,875 shares of the business’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $41.74, for a total value of $78,262.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of Southside Bancshares during the fourth quarter valued at $28,000. Gibson Wealth Advisors LLC acquired a new position in shares of Southside Bancshares during the fourth quarter valued at $45,000. Public Employees Retirement System of Ohio lifted its stake in shares of Southside Bancshares by 38.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,101 shares of the bank’s stock valued at $46,000 after acquiring an additional 305 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Southside Bancshares during the fourth quarter valued at $95,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Southside Bancshares during the fourth quarter valued at $125,000. 50.81% of the stock is currently owned by institutional investors.

Shares of Southside Bancshares stock traded up $0.71 during trading on Wednesday, hitting $39.82. 87,968 shares of the company were exchanged, compared to its average volume of 94,476. The stock has a 50 day moving average of $41.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $1.29 billion, a PE ratio of 11.48 and a beta of 0.54. Southside Bancshares has a fifty-two week low of $34.52 and a fifty-two week high of $45.36.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 3rd. Stockholders of record on Thursday, February 17th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 16th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.42%. Southside Bancshares’s payout ratio is currently 39.19%.

About Southside Bancshares (Get Rating)

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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Earnings History and Estimates for Southside Bancshares (NASDAQ:SBSI)

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