Southside Bancshares (NASDAQ:SBSI) Releases Earnings Results, Beats Estimates By $0.04 EPS

Southside Bancshares (NASDAQ:SBSI) issued its quarterly earnings data on Tuesday. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04, Briefing.com reports. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. During the same period in the prior year, the business posted $0.71 earnings per share.

Southside Bancshares Stock Down 2.7 %

SBSI traded down $0.78 during trading on Tuesday, hitting $27.75. 6,646 shares of the company’s stock traded hands, compared to its average volume of 115,272. The stock has a market capitalization of $843.32 million, a price-to-earnings ratio of 9.53 and a beta of 0.58. Southside Bancshares has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The company’s 50 day simple moving average is $28.74 and its two-hundred day simple moving average is $31.62.

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.36 dividend. The ex-dividend date was Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 5.19%. Southside Bancshares’s payout ratio is currently 49.48%.

Analysts Set New Price Targets

A number of analysts recently commented on SBSI shares. Stephens dropped their price target on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Raymond James initiated coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They issued a “market perform” rating on the stock. Finally, StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th.

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.