Southside Bancshares (NASDAQ:SBSI) Announces Earnings Results, Beats Expectations By $0.07 EPS

Southside Bancshares (NASDAQ:SBSIGet Rating) announced its earnings results on Tuesday. The bank reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.07, Briefing.com reports. Southside Bancshares had a net margin of 42.74% and a return on equity of 12.87%. During the same period in the prior year, the business earned $1.06 earnings per share.

Southside Bancshares stock opened at $38.95 on Thursday. The business’s 50-day simple moving average is $40.66 and its two-hundred day simple moving average is $41.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $1.26 billion, a PE ratio of 11.22 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 announced a quarterly dividend, which was paid on Thursday, March 3rd. Investors of record on Thursday, February 17th were paid a $0.34 dividend. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $1.36 dividend on an annualized basis and a yield of 3.49%. Southside Bancshares’s dividend payout ratio (DPR) is 39.19%.

A number of research firms have recently weighed in on SBSI. Zacks Investment Research raised 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. StockNews.com started coverage on shares of Southside Bancshares in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In related news, COO Brian K. Mccabe sold 1,875 shares of Southside Bancshares stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $41.74, for a total transaction of $78,262.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBSI. Wells Fargo & Company MN boosted its holdings in shares of Southside Bancshares by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 60,031 shares of the bank’s stock valued at $2,511,000 after acquiring an additional 1,685 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Southside Bancshares by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 54,304 shares of the bank’s stock valued at $2,271,000 after purchasing an additional 7,154 shares during the last quarter. California State Teachers Retirement System grew its position in Southside Bancshares by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 43,044 shares of the bank’s stock worth $1,800,000 after purchasing an additional 588 shares during the period. UBS Group AG raised its stake in shares of Southside Bancshares by 2.7% during the 3rd quarter. UBS Group AG now owns 36,800 shares of the bank’s stock valued at $1,409,000 after buying an additional 963 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of Southside Bancshares by 6.2% in the 4th quarter. Credit Suisse AG now owns 31,268 shares of the bank’s stock valued at $1,307,000 after buying an additional 1,819 shares during the period. Institutional investors and hedge funds 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 for Southside Bancshares (NASDAQ:SBSI)

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