Southside Bancshares (NASDAQ:SBSI) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Southside Bancshares (NASDAQ:SBSI) announced its quarterly earnings data on Thursday. The bank reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.04), Briefing.com reports. The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $67.10 million. Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. During the same quarter last year, the company earned $0.84 EPS.

Southside Bancshares Trading Down 1.4 %

Shares of Southside Bancshares stock opened at $27.27 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.17. The firm has a market cap of $825.74 million, a price-to-earnings ratio of 10.14 and a beta of 0.54. The business has a fifty day simple moving average of $28.28 and a 200-day simple moving average of $29.24. Southside Bancshares has a fifty-two week low of $25.38 and a fifty-two week high of $34.40.

Southside Bancshares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.36 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 5.28%. Southside Bancshares’s dividend payout ratio (DPR) is 53.53%.

Insider Activity

In other news, Director Herbert C. Buie acquired 1,990 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average price of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the acquisition, the director now directly owns 407,501 shares in the company, valued at approximately $13,251,932.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Lee R. Gibson sold 14,897 shares of the company’s stock in a transaction on Monday, March 4th. The stock was 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 directly owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herbert C. Buie bought 1,990 shares of Southside Bancshares stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $32.52 per share, with a total value of $64,714.80. Following the completion of the acquisition, the director now owns 407,501 shares of the company’s stock, valued at $13,251,932.52. The disclosure for this purchase can be found here. Insiders own 5.90% of the company’s stock.

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.