Southside Bancshares (SBSI) to Release Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) will likely be announcing its results before the market opens on Thursday, January 29th. Analysts expect the company to announce earnings of $0.80 per share and revenue of $71.7020 million for the quarter.

Southside Bancshares Trading Up 5.1%

Shares of Southside Bancshares stock opened at $33.47 on Thursday. The firm’s 50 day moving average is $30.79 and its 200 day moving average is $29.96. The firm has a market capitalization of $1.01 billion, a PE ratio of 11.50 and a beta of 0.64. Southside Bancshares has a 1 year low of $25.85 and a 1 year high of $33.66. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, November 20th. Southside Bancshares’s payout ratio is presently 62.61%.

Insider Activity at Southside Bancshares

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,807 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were bought at an average price of $30.68 per share, for a total transaction of $55,438.76. Following the completion of the acquisition, the director owned 389,288 shares in the company, valued at approximately $11,943,355.84. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of Southside Bancshares by 1,083.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock valued at $28,000 after buying an additional 867 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Southside Bancshares during the third quarter worth about $45,000. Russell Investments Group Ltd. lifted its stake in shares of Southside Bancshares by 927.6% in the third quarter. Russell Investments Group Ltd. now owns 2,826 shares of the bank’s stock worth $80,000 after acquiring an additional 2,551 shares during the period. First Trust Advisors LP acquired a new position in shares of Southside Bancshares in the second quarter worth approximately $202,000. Finally, Curi Capital LLC bought a new stake in Southside Bancshares in the second quarter valued at approximately $219,000. 55.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

About Southside Bancshares

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.