Southside Bancshares, Inc. (NASDAQ:SBSI) Plans Quarterly Dividend of $0.36

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Thursday, August 22nd will be given a dividend of 0.36 per share by the bank on Thursday, September 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Thursday, August 22nd.

Southside Bancshares has increased its dividend payment by an average of 3.9% per year over the last three years and has increased its dividend every year for the last 30 years. Southside Bancshares has a dividend payout ratio of 48.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southside Bancshares to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 48.6%.

Southside Bancshares Trading Up 0.7 %

Southside Bancshares stock opened at $32.73 on Tuesday. The stock has a 50-day moving average of $29.54 and a two-hundred day moving average of $28.60. The stock has a market cap of $991.23 million, a PE ratio of 12.17 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. Southside Bancshares has a one year low of $25.30 and a one year high of $36.10.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.64 by $0.17. 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 during the quarter, compared to the consensus estimate of $64.91 million. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, research analysts anticipate that Southside Bancshares will post 2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group lifted their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Insider Buying and Selling at Southside Bancshares

In other news, insider Jared C. Green sold 864 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total value of $28,745.28. Following the sale, the insider now owns 4,358 shares in the company, valued at $144,990.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of Southside Bancshares stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at $852,174.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jared C. Green sold 864 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the sale, the insider now directly owns 4,358 shares in the company, valued at $144,990.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,223 shares of company stock worth $342,994. Insiders own 5.90% of the company’s stock.

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.