SunTrust Banks Comments on Southside Bancshares, Inc.’s Q3 2019 Earnings (SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) – Stock analysts at SunTrust Banks issued their Q3 2019 earnings per share estimates for Southside Bancshares in a note issued to investors on Tuesday. SunTrust Banks analyst M. Young expects that the bank will earn $0.66 per share for the quarter.

SBSI has been the topic of several other research reports. ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research downgraded Southside Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Finally, BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $37.33.

Shares of Southside Bancshares (NASDAQ SBSI) traded up $0.26 during trading on Friday, reaching $34.13. The company’s stock had a trading volume of 195,780 shares, compared to its average volume of 130,766. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The company has a market cap of $1,213.63, a P/E ratio of 18.28 and a beta of 0.77. Southside Bancshares has a 52-week low of $31.20 and a 52-week high of $37.57.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock worth $225,000 after buying an additional 158 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 8,754 shares of the bank’s stock worth $306,000 after buying an additional 213 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,607 shares of the bank’s stock worth $371,000 after buying an additional 257 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 11,218 shares of the bank’s stock worth $391,000 after buying an additional 273 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Southside Bancshares by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,143 shares of the bank’s stock worth $739,000 after buying an additional 1,158 shares in the last quarter. 43.19% of the stock is currently owned by institutional investors.

In other news, Director Tony K. Morgan acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $35.45 per share, with a total value of $35,450.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Bosworth sold 4,512 shares of the business’s stock in a transaction on Monday, November 20th. The stock was 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. 17.20% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, February 21st. Southside Bancshares’s payout ratio is currently 61.63%.

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Southside Bancshares Company Profile

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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