Southside Bancshares (NASDAQ:SBSI) issued its quarterly earnings data on Tuesday, February 6th. The bank reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.09), Morningstar.com reports. Southside Bancshares had a return on equity of 9.50% and a net margin of 24.14%. The firm had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million.
Southside Bancshares (SBSI) opened at $34.08 on Wednesday. Southside Bancshares has a 52-week low of $31.20 and a 52-week 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 debt-to-equity ratio of 1.57, a quick ratio of 0.77 and a current ratio of 0.77.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Wednesday, February 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 61.63%.
In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.94, for a total value of $153,137.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $35.19, for a total transaction of $26,392.50. Following the completion of the sale, the executive vice president now directly owns 3,563 shares in the company, valued at approximately $125,381.97. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. First Dallas Securities Inc. bought a new stake in Southside Bancshares in the 4th quarter valued at $126,000. Catalyst Capital Advisors LLC increased its holdings in Southside Bancshares by 111.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after buying an additional 2,002 shares during the period. Bbva Compass Bancshares Inc. bought a new stake in Southside Bancshares in the 3rd quarter valued at $204,000. Piedmont Investment Advisors LLC bought a new stake in Southside Bancshares in the 2nd quarter valued at $205,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Southside Bancshares by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after buying an additional 158 shares during the period. 43.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Zacks Investment Research raised shares of Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Saturday, January 6th. Finally, ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.33.
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About Southside Bancshares
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.
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