Southside Bancshares (NASDAQ:SBSI) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Southside Bancshares (NASDAQ:SBSI) released its quarterly earnings data on Thursday. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.64 by $0.17, Briefing.com reports. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. The business had revenue of $115.74 million for the quarter, compared to analyst estimates of $64.91 million. During the same period in the previous year, the firm earned $0.82 EPS.

Southside Bancshares Price Performance

SBSI stock traded down $0.39 during trading on Friday, hitting $34.02. The stock had a trading volume of 127,478 shares, compared to its average volume of 122,152. Southside Bancshares has a 1-year low of $25.30 and a 1-year high of $34.70. The company’s 50 day moving average price is $27.66 and its two-hundred day moving average price is $28.46. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 0.77. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.65 and a beta of 0.55.

Southside Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Southside Bancshares Company Profile

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.