Southside Bancshares (NASDAQ:SBSI) Announces Earnings Results

Southside Bancshares (NASDAQ:SBSI) posted its quarterly earnings results on Thursday. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17, Briefing.com reports. The company had revenue of $115.74 million for the quarter, compared to analyst estimates of $64.91 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. During the same quarter last year, the company earned $0.82 EPS.

Southside Bancshares Stock Performance

NASDAQ:SBSI traded down $0.39 during mid-day trading on Friday, reaching $34.02. 127,478 shares of the stock were exchanged, compared to its average volume of 122,152. The company has a 50 day simple moving average of $27.66 and a 200-day simple moving average of $28.46. The stock has a market capitalization of $1.03 billion, a P/E ratio of 12.65 and a beta of 0.55. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.14. Southside Bancshares has a 1 year low of $25.30 and a 1 year high of $34.70.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.36 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.23%. Southside Bancshares’s payout ratio is currently 53.53%.

Analyst Ratings Changes

SBSI has been the topic of a number of recent analyst reports. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group dropped their price objective on Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th.

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.