Analysts expect Southside Bancshares, Inc. (NASDAQ:SBSI) to report $56.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Southside Bancshares’ earnings, with the lowest sales estimate coming in at $55.90 million and the highest estimate coming in at $57.10 million. Southside Bancshares reported sales of $62.50 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.6%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 4th.
On average, analysts expect that Southside Bancshares will report full year sales of $227.85 million for the current fiscal year, with estimates ranging from $225.50 million to $230.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $229.20 million, with estimates ranging from $228.20 million to $230.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Tuesday, January 26th. The bank reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.25. The business had revenue of $62.80 million for the quarter, compared to analyst estimates of $60.40 million. Southside Bancshares had a net margin of 24.55% and a return on equity of 8.68%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS.
Separately, Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, April 2nd.
NASDAQ SBSI traded down $0.22 during trading on Friday, reaching $38.32. 5,094 shares of the company’s stock were exchanged, compared to its average volume of 146,713. The company has a 50 day moving average price of $37.83 and a two-hundred day moving average price of $31.78. The stock has a market cap of $1.26 billion, a P/E ratio of 17.88 and a beta of 0.61. Southside Bancshares has a 1 year low of $23.51 and a 1 year high of $41.99. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.75 and a current ratio of 0.75.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Investors of record on Thursday, February 18th were given a $0.32 dividend. The ex-dividend date was Wednesday, February 17th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.34%. Southside Bancshares’s payout ratio is 58.18%.
In other news, insider Suni M. Davis sold 810 shares of the business’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $40.00, for a total value of $32,400.00. Following the completion of the sale, the insider now directly owns 4,926 shares of the company’s stock, valued at approximately $197,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lee R. Gibson sold 12,036 shares of the company’s stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $34.03, for a total value of $409,585.08. Following the completion of the sale, the chief executive officer now directly owns 51,452 shares of the company’s stock, valued at $1,750,911.56. The disclosure for this sale can be found here. Insiders sold 25,585 shares of company stock valued at $929,018 in the last 90 days. 5.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SBSI. SG Americas Securities LLC purchased a new stake in Southside Bancshares in the 4th quarter valued at $186,000. AQR Capital Management LLC acquired a new position in Southside Bancshares in the third quarter valued at $207,000. Trexquant Investment LP purchased a new stake in shares of Southside Bancshares in the fourth quarter valued at about $240,000. JPMorgan Chase & Co. boosted its stake in shares of Southside Bancshares by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 11,790 shares of the bank’s stock worth $289,000 after buying an additional 704 shares during the period. Finally, Ameritas Investment Company LLC acquired a new stake in shares of Southside Bancshares during the fourth quarter worth about $296,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.
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 deposit.
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