Southside Bancshares, Inc. (SBSI) To Go Ex-Dividend on February 14th

Southside Bancshares, Inc. (NASDAQ:SBSIGet Free Report) announced a quarterly dividend on Thursday, February 1st, Zacks reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.36 per share by the bank on Thursday, February 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Wednesday, February 14th.

Southside Bancshares has increased its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 30 consecutive years. Southside Bancshares has a payout ratio of 49.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Southside Bancshares to earn $2.97 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 48.5%.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $30.31 on Monday. The stock has a market cap of $915.36 million, a PE ratio of 10.79 and a beta of 0.56. The business has a fifty day simple moving average of $30.98 and a 200-day simple moving average of $29.99. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.13. Southside Bancshares has a 12 month low of $25.38 and a 12 month high of $39.74.

Southside Bancshares (NASDAQ:SBSIGet Free Report) last issued its earnings results on Friday, January 26th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.10). The business had revenue of $68.50 million during the quarter, compared to analyst estimates of $64.82 million. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Southside Bancshares will post 2.86 EPS for the current fiscal year.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, Director Herbert C. Buie acquired 1,990 shares of Southside Bancshares stock in a transaction that occurred on Tuesday, January 30th. The stock was acquired at an average price of $32.52 per share, with a total value of $64,714.80. Following the purchase, 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 is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Southside Bancshares during the second quarter worth approximately $38,000. Point72 Middle East FZE bought a new stake in Southside Bancshares during the second quarter worth approximately $48,000. Tower Research Capital LLC TRC boosted its position in Southside Bancshares by 305.8% during the third quarter. Tower Research Capital LLC TRC now owns 1,944 shares of the bank’s stock worth $56,000 after purchasing an additional 1,465 shares during the period. Quantbot Technologies LP bought a new stake in Southside Bancshares during the second quarter worth approximately $105,000. Finally, Jane Street Group LLC bought a new stake in Southside Bancshares during the second quarter worth approximately $233,000. 57.48% of the stock is owned by institutional investors.

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

Dividend History for Southside Bancshares (NASDAQ:SBSI)

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