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Drexel Hamilton started coverage on shares of Southside Bancshares (NASDAQ:SBSI) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.

Shares of Southside Bancshares (NASDAQ:SBSI) opened at 33.76 on Wednesday. Southside Bancshares has a 52 week low of $24.62 and a 52 week high of $34.39. The stock has a 50-day moving average of $29.74 and a 200-day moving average of $28.98. The company has a market cap of $636.2 million and a price-to-earnings ratio of 15.52.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. On average, analysts predict that Southside Bancshares will post $2.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, August 19th. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.21.

Southside Bancshares, Inc (NASDAQ:SBSI) bank holding company for Southside Bank.

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