Southside Bancshares (NASDAQ:SBSI) Announces Earnings Results, Misses Estimates By $0.05 EPS

Southside Bancshares (NASDAQ:SBSI) posted its quarterly earnings data on Thursday. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $0.60 earnings per share.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock traded down $1.72 during trading on Thursday, reaching $31.84. The company’s stock had a trading volume of 9,846 shares, compared to its average volume of 115,018. The business’s fifty day moving average price is $33.26 and its 200-day moving average price is $30.05. Southside Bancshares has a one year low of $25.30 and a one year high of $36.10. The firm has a market cap of $963.80 million, a price-to-earnings ratio of 11.74 and a beta of 0.54. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio is currently 53.53%.

Analyst Upgrades and Downgrades

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

Insider Activity

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

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 deposits.