Southside Bancshares (NASDAQ:SBSI) Releases Earnings Results, Misses Expectations By $0.05 EPS

Southside Bancshares (NASDAQ:SBSI) announced its earnings results on Thursday. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05), Briefing.com reports. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same quarter in the prior year, the business posted $0.60 earnings per share.

Southside Bancshares Stock Down 4.9 %

Shares of Southside Bancshares stock traded down $1.63 during trading on Thursday, hitting $31.93. 51,525 shares of the stock traded hands, compared to its average volume of 115,221. The stock has a market cap of $966.52 million, a P/E ratio of 11.74 and a beta of 0.54. The company has a fifty day moving average price of $33.26 and a two-hundred day moving average price of $30.05. Southside Bancshares has a twelve month low of $25.30 and a twelve month high of $36.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.53%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBSI shares. StockNews.com lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Hovde Group lifted their price target on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Insider Buying and Selling

In other Southside Bancshares news, insider Jared C. Green sold 864 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total value of $28,745.28. Following the completion of the sale, the insider now directly owns 4,358 shares of the company’s stock, valued at $144,990.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jared C. Green sold 864 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the transaction, the insider now owns 4,358 shares of the company’s stock, valued at approximately $144,990.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now directly owns 24,327 shares in the company, valued at $852,174.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,890 shares of company stock worth $500,319. Insiders own 5.90% of the company’s stock.

About Southside Bancshares

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 deposits.