Southside Bancshares (NASDAQ:SBSI) Posts Earnings Results, Beats Expectations By $0.25 EPS

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

SBSI stock traded up $0.64 during midday trading on Wednesday, reaching $41.78. The company had a trading volume of 1,967 shares, compared to its average volume of 119,248. Southside Bancshares has a 1 year low of $25.27 and a 1 year high of $43.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.36 billion, a P/E ratio of 12.10 and a beta of 0.61. The company has a 50 day moving average of $37.55 and a two-hundred day moving average of $38.79.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th were given a $0.33 dividend. The ex-dividend date was Wednesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 3.16%. Southside Bancshares’s payout ratio is 53.01%.

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

A hedge fund recently raised its stake in Southside Bancshares stock. Morgan Stanley boosted its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 36.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,866 shares of the bank’s stock after buying an additional 42,262 shares during the quarter. Morgan Stanley owned approximately 0.48% of Southside Bancshares worth $6,035,000 at the end of the most recent quarter. 50.80% of the stock is owned by institutional investors.

About Southside Bancshares

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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