Southside Bancshares (SBSI) to Release Quarterly Earnings on Friday

Southside Bancshares (NASDAQ:SBSIGet Rating) will be posting its quarterly earnings results before the market opens on Friday, January 27th. Analysts expect Southside Bancshares to post earnings of $0.86 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Southside Bancshares (NASDAQ:SBSIGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The bank reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.13). The firm had revenue of $69.50 million during the quarter, compared to analyst estimates of $70.92 million. Southside Bancshares had a return on equity of 13.59% and a net margin of 38.60%. During the same quarter last year, the company posted $0.90 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 Trading Down 1.0 %

Shares of Southside Bancshares stock opened at $35.86 on Wednesday. The firm has a 50-day simple moving average of $35.60 and a two-hundred day simple moving average of $36.77. The company has a market cap of $1.15 billion, a P/E ratio of 10.93 and a beta of 0.54. Southside Bancshares has a fifty-two week low of $31.18 and a fifty-two week high of $44.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.66 and a current ratio of 0.66.

Southside Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Shareholders of record on Wednesday, November 23rd were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.34. Southside Bancshares’s dividend payout ratio is 41.46%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens decreased their price objective on shares of Southside Bancshares from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, October 31st. StockNews.com downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SBSI. Millennium Management LLC raised its position in shares of Southside Bancshares by 545.9% during the 2nd quarter. Millennium Management LLC now owns 301,531 shares of the bank’s stock worth $11,283,000 after purchasing an additional 254,850 shares during the last quarter. Citadel Advisors LLC raised its holdings in Southside Bancshares by 776.7% in the 3rd quarter. Citadel Advisors LLC now owns 139,572 shares of the bank’s stock valued at $4,936,000 after acquiring an additional 123,651 shares during the last quarter. BlackRock Inc. raised its holdings in Southside Bancshares by 1.9% in the 1st quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock valued at $194,286,000 after acquiring an additional 88,082 shares during the last quarter. State Street Corp raised its holdings in Southside Bancshares by 4.1% in the 1st quarter. State Street Corp now owns 1,279,542 shares of the bank’s stock valued at $52,244,000 after acquiring an additional 50,056 shares during the last quarter. Finally, UBS Group AG raised its holdings in Southside Bancshares by 106.4% in the 3rd quarter. UBS Group AG now owns 36,220 shares of the bank’s stock valued at $1,281,000 after acquiring an additional 18,669 shares during the last quarter. Institutional investors and hedge funds own 53.13% of the company’s stock.

Southside Bancshares Company Profile

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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.

See Also

Earnings History for Southside Bancshares (NASDAQ:SBSI)

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