SunTrust Banks Equities Analysts Lift Earnings Estimates for Southside Bancshares, Inc. (SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) – Research analysts at SunTrust Banks raised their Q1 2018 earnings per share (EPS) estimates for Southside Bancshares in a report issued on Tuesday. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.56. SunTrust Banks also issued estimates for Southside Bancshares’ Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.62 EPS, FY2018 earnings at $2.44 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.64 EPS.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.09). Southside Bancshares had a return on equity of 9.50% and a net margin of 24.14%. The company had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 8th. ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Finally, BidaskClub cut Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.33.

Southside Bancshares (SBSI) opened at $34.67 on Thursday. Southside Bancshares has a 1-year low of $31.20 and a 1-year high of $37.57. The firm has a market capitalization of $1,192.60, a price-to-earnings ratio of 19.08 and a beta of 0.77. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.62.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.12 annualized dividend and a yield of 3.23%. Southside Bancshares’s payout ratio is currently 61.63%.

In other Southside Bancshares news, Director Tony K. Morgan bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average cost of $35.45 per share, for a total transaction of $35,450.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Bosworth sold 4,512 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.94, for a total value of $153,137.28. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Dallas Securities Inc. acquired a new position in Southside Bancshares in the fourth quarter valued at $126,000. Teacher Retirement System of Texas acquired a new position in Southside Bancshares in the fourth quarter valued at $323,000. American Century Companies Inc. grew its position in Southside Bancshares by 10.8% during the fourth quarter. American Century Companies Inc. now owns 508,586 shares of the bank’s stock valued at $17,129,000 after acquiring an additional 49,670 shares during the period. Victory Capital Management Inc. grew its position in Southside Bancshares by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 24,929 shares of the bank’s stock valued at $840,000 after acquiring an additional 1,512 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in Southside Bancshares by 6.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 137,034 shares of the bank’s stock valued at $4,616,000 after acquiring an additional 8,473 shares during the period. Hedge funds and other institutional investors own 43.19% of the company’s stock.

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About Southside Bancshares

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

Earnings History and Estimates for Southside Bancshares (NASDAQ:SBSI)

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