Southside Bancshares (SBSI) to Release Quarterly Earnings on Friday

Southside Bancshares (NASDAQ:SBSI) is projected to release its results before the market opens on Friday, October 24th. Analysts expect Southside Bancshares to post earnings of $0.72 per share and revenue of $70.2840 million for the quarter.

Southside Bancshares Price Performance

Shares of NASDAQ SBSI opened at $27.84 on Thursday. Southside Bancshares has a twelve month low of $25.85 and a twelve month high of $38.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market cap of $837.43 million, a PE ratio of 9.57 and a beta of 0.64. The business’s 50 day moving average price is $29.49 and its two-hundred day moving average price is $29.14.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 annualized dividend and a yield of 5.2%. Southside Bancshares’s payout ratio is 51.06%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Southside Bancshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Stephens restated an “equal weight” rating and set a $36.00 price target on shares of Southside Bancshares in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Institutional Investors Weigh In On Southside Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of SBSI. EverSource Wealth Advisors LLC boosted its position in Southside Bancshares by 1,083.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock valued at $28,000 after acquiring an additional 867 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Southside Bancshares during the 2nd quarter valued at about $202,000. Curi Capital LLC acquired a new position in shares of Southside Bancshares during the second quarter valued at approximately $219,000. The Manufacturers Life Insurance Company lifted its position in shares of Southside Bancshares by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the bank’s stock valued at $324,000 after acquiring an additional 706 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Southside Bancshares in the second quarter valued at approximately $356,000. 55.70% of the stock is owned by institutional investors.

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.