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

Southside Bancshares (NASDAQ:SBSI) released its quarterly earnings results on Thursday. The bank reported $0.71 EPS 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 analyst estimates of $67.10 million. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. During the same period last year, the firm earned $0.84 EPS.

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI traded down $0.40 during trading on Friday, reaching $27.27. The company had a trading volume of 139,799 shares, compared to its average volume of 130,302. The firm has a market capitalization of $825.74 million, a price-to-earnings ratio of 9.63 and a beta of 0.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s fifty day moving average price is $28.32 and its 200 day moving average price is $29.25. 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 declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.28%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is 51.25%.

Insider Activity

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

About Southside Bancshares

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.