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

Southside Bancshares (NASDAQ:SBSI) posted its earnings results 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 for the quarter, compared to analysts’ expectations of $67.10 million. Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. During the same period last year, the firm earned $0.84 earnings per share.

Southside Bancshares Price Performance

Shares of NASDAQ SBSI opened at $27.27 on Friday. The firm has a market cap of $825.74 million, a PE ratio of 10.14 and a beta of 0.54. The firm has a fifty day moving average of $28.28 and a 200 day moving average of $29.24. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.75 and a current ratio of 0.76. Southside Bancshares has a one year low of $25.38 and a one year high of $34.40.

Southside Bancshares Cuts Dividend

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

Insider Buying and Selling

In other Southside Bancshares news, Director Herbert C. Buie bought 1,990 shares of the stock in a transaction on Tuesday, January 30th. The shares were bought at an average price of $32.52 per share, with a total value of $64,714.80. Following the purchase, the director now directly owns 407,501 shares in the company, valued at approximately $13,251,932.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Lee R. Gibson sold 14,897 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the transaction, the chief executive officer now owns 56,491 shares of the company’s stock, valued at approximately $1,709,982.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herbert C. Buie purchased 1,990 shares of the stock in a transaction dated Tuesday, January 30th. The shares were purchased at an average cost of $32.52 per share, for a total transaction of $64,714.80. Following the transaction, the director now owns 407,501 shares in the company, valued at approximately $13,251,932.52. The disclosure for this purchase can be found here. 5.90% of the stock is owned by insiders.

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.