Southside Bancshares (NASDAQ:SBSI) released its earnings results on Friday. The bank reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55, Morningstar.com reports. The business had revenue of $55.41 million for the quarter, compared to analyst estimates of $55.28 million. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share.
SBSI stock traded up $0.74 on Friday, reaching $33.61. 188,100 shares of the company’s stock were exchanged, compared to its average volume of 111,199. The company has a fifty day moving average of $32.51. Southside Bancshares has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 15.93 and a beta of 0.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.78 and a current ratio of 0.78.
In other news, Director Tony K. Morgan bought 1,000 shares of the stock in a transaction on Thursday, June 6th. The shares were bought at an average price of $33.01 per share, with a total value of $33,010.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 1,127 shares of company stock worth $37,429 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its holdings in Southside Bancshares by 66,530.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock valued at $221,000 after purchasing an additional 6,653 shares during the last quarter. United Services Automobile Association acquired a new stake in Southside Bancshares in the fourth quarter valued at $236,000. Metropolitan Life Insurance Co. NY grew its holdings in Southside Bancshares by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock valued at $348,000 after purchasing an additional 8,565 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Southside Bancshares by 3.7% in the second quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the bank’s stock valued at $363,000 after purchasing an additional 400 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Southside Bancshares in the fourth quarter valued at $388,000. 53.33% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on SBSI. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th.
Southside Bancshares Company Profile
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.
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