Southside Bancshares (SBSI) Announces Earnings Results

Southside Bancshares (NASDAQ:SBSI) released its quarterly earnings data on Tuesday, February 6th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.09), Morningstar.com reports. The firm had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million. Southside Bancshares had a net margin of 24.14% and a return on equity of 9.50%.

Shares of Southside Bancshares (SBSI) traded up $0.05 during trading on Wednesday, hitting $34.08. The stock had a trading volume of 92,900 shares, compared to its average volume of 129,583. Southside Bancshares has a 1 year low of $31.20 and a 1 year high of $37.57. The stock has a market cap of $1,191.05, a price-to-earnings ratio of 17.94 and a beta of 0.77. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.57.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, February 21st. Southside Bancshares’s dividend payout ratio is presently 61.63%.

A number of research firms have weighed in on SBSI. ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. BidaskClub upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Southside Bancshares presently has an average rating of “Hold” and an average price target of $37.33.

In other Southside Bancshares news, EVP Peter M. Boyd sold 750 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares in the company, valued at approximately $125,381.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Bosworth sold 4,512 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SBSI. Schwab Charles Investment Management Inc. boosted its position in shares of Southside Bancshares by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock valued at $4,251,000 after acquiring an additional 4,254 shares during the last quarter. Swiss National Bank lifted its position in Southside Bancshares by 2.5% in the 2nd quarter. Swiss National Bank now owns 46,718 shares of the bank’s stock worth $1,632,000 after buying an additional 1,140 shares during the last quarter. Wells Fargo & Company MN lifted its position in Southside Bancshares by 40.8% in the 2nd quarter. Wells Fargo & Company MN now owns 63,123 shares of the bank’s stock worth $2,205,000 after buying an additional 18,278 shares during the last quarter. Teachers Advisors LLC lifted its position in Southside Bancshares by 13.4% in the 2nd quarter. Teachers Advisors LLC now owns 54,248 shares of the bank’s stock worth $1,895,000 after buying an additional 6,420 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in Southside Bancshares by 6.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 100,833 shares of the bank’s stock worth $3,523,000 after buying an additional 6,288 shares during the last quarter. Hedge funds and other institutional investors own 43.22% of the company’s stock.

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Southside Bancshares Company Profile

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

Earnings History for Southside Bancshares (NASDAQ:SBSI)

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