Southside Bancshares (SBSI) Set to Announce Quarterly Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Southside Bancshares to post earnings of $0.75 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Friday, January 26th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.10). The business had revenue of $68.50 million for the quarter, compared to analyst estimates of $64.82 million. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. On average, analysts expect Southside Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Southside Bancshares Trading Up 0.2 %

Shares of NASDAQ:SBSI opened at $26.96 on Thursday. The company has a market cap of $816.35 million, a P/E ratio of 9.59 and a beta of 0.54. The stock’s 50-day moving average is $28.57 and its 200-day moving average is $29.27. Southside Bancshares has a 52-week low of $25.38 and a 52-week high of $34.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.75 and a current ratio of 0.75.

Southside Bancshares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is presently 51.25%.

Insiders Place Their Bets

In other news, Director Herbert C. Buie bought 1,990 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the purchase, the director now owns 407,501 shares of the company’s stock, valued at approximately $13,251,932.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of Southside Bancshares stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the completion of the sale, the chief executive officer now owns 56,491 shares of the company’s stock, valued at approximately $1,709,982.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert C. Buie purchased 1,990 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average cost of $32.52 per share, with a total value of $64,714.80. Following the acquisition, the director now directly owns 407,501 shares in the company, valued at $13,251,932.52. The disclosure for this purchase can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Southside Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in Southside Bancshares during the 2nd quarter worth about $38,000. Point72 Middle East FZE acquired a new position in Southside Bancshares in the 2nd quarter valued at about $48,000. Tower Research Capital LLC TRC grew its stake in Southside Bancshares by 305.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,944 shares of the bank’s stock valued at $56,000 after buying an additional 1,465 shares during the last quarter. Quantbot Technologies LP acquired a new position in Southside Bancshares in the 2nd quarter valued at about $105,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Southside Bancshares during the 4th quarter worth approximately $205,000. 55.70% of the stock is owned by institutional investors.

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.