Southside Bancshares, Inc. (SBSI) To Go Ex-Dividend on November 21st

Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.36 per share by the bank on Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, November 21st.

Southside Bancshares has increased its dividend 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 50.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Southside Bancshares to earn $2.79 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 51.6%.

Southside Bancshares Stock Down 1.5 %

Shares of SBSI opened at $35.36 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.84 and a beta of 0.55. Southside Bancshares has a 1 year low of $25.30 and a 1 year high of $38.00. The business’s 50 day simple moving average is $33.61 and its 200-day simple moving average is $30.89.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The business had revenue of $113.87 million for the quarter, compared to analysts’ expectations of $68.25 million. During the same period in the previous year, the company earned $0.60 EPS. As a group, equities analysts expect that Southside Bancshares will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

SBSI has been the subject of several recent research reports. Hovde Group lifted their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com cut Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Insider Transactions at Southside Bancshares

In other news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suni M. Davis sold 2,220 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total value of $79,920.00. Following the sale, the insider now directly owns 9,202 shares of the company’s stock, valued at $331,272. This represents a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,187 shares of company stock worth $358,487. 6.10% of the stock is currently owned by insiders.

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.