Southside Bancshares (SBSI) to Release Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) is scheduled to issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.75 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Friday, January 26th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.10). The company had revenue of $68.50 million for the quarter, compared to the consensus estimate of $64.82 million. Southside Bancshares had a net margin of 21.92% and a return on equity of 11.59%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. 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 Stock Up 0.2 %

Shares of SBSI opened at $26.96 on Thursday. The firm has a market cap of $816.35 million, a P/E ratio of 9.59 and a beta of 0.54. The stock has a 50 day simple moving average of $28.57 and a two-hundred day simple moving average of $29.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. Southside Bancshares has a 1 year low of $25.38 and a 1 year high of $34.40.

Southside Bancshares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is presently 51.25%.

Insider Buying and Selling

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,990 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average price of $32.52 per share, with a total value of $64,714.80. Following the completion of the purchase, the director now directly owns 407,501 shares of the company’s stock, valued at approximately $13,251,932.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Herbert C. Buie acquired 1,990 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average price of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the acquisition, the director now owns 407,501 shares in the company, valued at $13,251,932.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lee R. Gibson sold 14,897 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.27, for a total value of $450,932.19. Following the transaction, the chief executive officer now owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southside Bancshares

Several institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in Southside Bancshares during the 2nd quarter valued at approximately $38,000. Point72 Middle East FZE bought a new position in shares of Southside Bancshares during the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in Southside Bancshares by 305.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,944 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,465 shares during the period. Quantbot Technologies LP purchased a new position in Southside Bancshares during the 2nd quarter valued at $105,000. Finally, Jane Street Group LLC purchased a new stake in shares of Southside Bancshares in the 2nd quarter worth $233,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

About Southside Bancshares

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.