Southside Bancshares (NASDAQ:SBSI) Issues Quarterly Earnings Results

Southside Bancshares (NASDAQ:SBSI) announced 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. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $67.10 million. During the same quarter last year, the company earned $0.84 EPS.

Southside Bancshares Stock Down 1.4 %

SBSI traded down $0.40 during trading on Friday, reaching $27.27. The company had a trading volume of 139,992 shares, compared to its average volume of 130,305. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. Southside Bancshares has a 12 month low of $25.38 and a 12 month high of $34.40. The company has a market cap of $825.74 million, a P/E ratio of 9.70 and a beta of 0.54. The business’s fifty day moving average price is $28.32 and its 200 day moving average price is $29.25.

Southside Bancshares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is presently 51.25%.

Insider Buying and Selling

In related news, CEO Lee R. Gibson sold 14,897 shares of the company’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 completion of the sale, the chief executive officer now owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Lee R. Gibson sold 14,897 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Also, Director Herbert C. Buie purchased 1,990 shares of Southside Bancshares stock in a transaction that occurred on Tuesday, January 30th. The stock was acquired at an average cost of $32.52 per share, with a total value 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 corporate 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.