Southside Bancshares (NASDAQ:SBSI) Announces Earnings Results

Southside Bancshares (NASDAQ:SBSI) announced its quarterly earnings data on Monday. The bank reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.25, MarketWatch Earnings reports. Southside Bancshares had a return on equity of 13.00% and a net margin of 42.23%. During the same quarter last year, the firm posted $0.82 earnings per share.

Shares of SBSI traded up $0.72 during midday trading on Wednesday, reaching $41.86. 1,699 shares of the stock were exchanged, compared to its average volume of 119,248. Southside Bancshares has a 12-month low of $25.27 and a 12-month high of $43.69. The firm has a 50 day simple moving average of $37.55 and a 200-day simple moving average of $38.79. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 12.10 and a beta of 0.61.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 19th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, August 18th. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.01%.

An institutional investor recently raised its position in Southside Bancshares stock. Morgan Stanley lifted its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 36.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,866 shares of the bank’s stock after acquiring an additional 42,262 shares during the period. Morgan Stanley owned 0.48% of Southside Bancshares worth $6,035,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 50.80% of the company’s stock.

A number of equities research analysts have commented on the company. Zacks Investment Research lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, October 1st. Hovde Group reaffirmed a “market perform” rating and set a $34.82 price target (down from $42.00) on shares of Southside Bancshares in a research note on Monday, July 26th.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a bank holding company, which engages in the provision of financial services to individuals, businesses, municipal entities, and non-profit organizations. It offers checking, saving and retirement accounts, certificate of deposits, debit, credit cards, mobile banking, loans, mortgage and equity lending, identity theft prevention, electronic banking, healthcare banking, and business loans.

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Earnings History for Southside Bancshares (NASDAQ:SBSI)

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