Analysts Expect Southside Bancshares, Inc. (NASDAQ:SBSI) Will Post Earnings of $0.73 Per Share

Brokerages expect Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating) to announce earnings of $0.73 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Southside Bancshares’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.72. Southside Bancshares reported earnings per share of $0.65 in the same quarter last year, which would suggest a positive year over year growth rate of 12.3%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, 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 fiscal year, analysts anticipate that the firm will report earnings of $3.14 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Southside Bancshares.

Southside Bancshares (NASDAQ:SBSIGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The bank reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. Southside Bancshares had a return on equity of 12.87% and a net margin of 42.74%. During the same period in the previous year, the firm posted $1.06 earnings per share.

SBSI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, February 2nd. assumed coverage on shares of Southside Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

NASDAQ SBSI opened at $39.22 on Wednesday. Southside Bancshares has a 1 year low of $34.52 and a 1 year high of $45.36. The company has a market capitalization of $1.27 billion, a PE ratio of 11.30 and a beta of 0.54. The business has a 50-day simple moving average of $40.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.58.

The company also recently announced 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. 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 3.47%. The ex-dividend date was Wednesday, February 16th. Southside Bancshares’s payout ratio is presently 39.19%.

In other Southside Bancshares news, COO Brian K. Mccabe sold 1,875 shares of the company’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $41.74, for a total value of $78,262.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of Southside Bancshares during the 4th quarter worth approximately $28,000. Gibson Wealth Advisors LLC bought a new position in shares of Southside Bancshares during the fourth quarter worth about $45,000. Public Employees Retirement System of Ohio grew its stake in 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 worth $46,000 after purchasing an additional 305 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Southside Bancshares in the fourth quarter valued at approximately $95,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Southside Bancshares in the fourth quarter valued at approximately $125,000. Institutional investors own 50.81% of the company’s stock.

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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