Southside Bancshares (SBSI) Set to Announce Earnings on Friday

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

Southside Bancshares (NASDAQ:SBSIGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.13). The company had revenue of $69.50 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business 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 %

SBSI opened at $35.86 on Wednesday. The firm 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 12 month low of $31.18 and a 12 month high of $44.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $35.60 and a 200 day moving average of $36.77.

Southside Bancshares Increases Dividend

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

Institutional Trading of Southside Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Southside Bancshares by 17.0% during the second quarter. JPMorgan Chase & Co. now owns 99,845 shares of the bank’s stock valued at $3,736,000 after acquiring an additional 14,521 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Southside Bancshares by 14.2% during the first quarter. Goldman Sachs Group Inc. now owns 86,621 shares of the bank’s stock valued at $3,537,000 after acquiring an additional 10,781 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Southside Bancshares by 3.1% during the first quarter. Captrust Financial Advisors now owns 35,904 shares of the bank’s stock valued at $1,466,000 after acquiring an additional 1,072 shares in the last quarter. State Street Corp raised its stake in shares of Southside Bancshares by 4.1% during the first 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Southside Bancshares by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 295,277 shares of the bank’s stock valued at $12,057,000 after acquiring an additional 7,734 shares in the last quarter. Institutional investors own 53.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stephens dropped their target price on 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 lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.

About Southside Bancshares

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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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