Southside Bancshares (SBSI) Expected to Announce Quarterly Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) will likely be posting its results before the market opens on Thursday, January 29th. Analysts expect Southside Bancshares to post earnings of $0.80 per share and revenue of $71.7020 million for the quarter.

Southside Bancshares Trading Up 0.7%

SBSI stock opened at $32.45 on Wednesday. Southside Bancshares has a 1-year low of $25.85 and a 1-year high of $33.96. 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 business’s 50 day moving average is $31.11 and its 200-day moving average is $30.00. The firm has a market cap of $975.61 million, a P/E ratio of 11.15 and a beta of 0.64.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.4%. Southside Bancshares’s dividend payout ratio (DPR) is currently 62.61%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their price target on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating on the stock in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.50.

Insider Buying and Selling at Southside Bancshares

In other news, Director Herbert C. Buie purchased 1,807 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were purchased at an average cost of $30.68 per share, with a total value of $55,438.76. Following the completion of the transaction, the director owned 389,288 shares of the company’s stock, valued at $11,943,355.84. The trade was a 0.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in Southside Bancshares by 1,083.8% during the second quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock valued at $28,000 after purchasing an additional 867 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Southside Bancshares in the 3rd quarter valued at $45,000. Russell Investments Group Ltd. raised its holdings in shares of Southside Bancshares by 927.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,826 shares of the bank’s stock worth $80,000 after buying an additional 2,551 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Southside Bancshares during the 2nd quarter worth $202,000. Finally, Curi Capital LLC bought a new stake in shares of Southside Bancshares during the 2nd quarter worth $219,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.