Southside Bancshares (NASDAQ:SBSI) Issues Earnings Results

Southside Bancshares (NASDAQ:SBSI) released its quarterly earnings data on Thursday. The bank reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04), Briefing.com reports. Southside Bancshares had a return on equity of 10.80% and a net margin of 19.79%. The firm had revenue of $112.48 million during the quarter, compared to the consensus estimate of $67.10 million. During the same period in the previous year, the firm earned $0.84 EPS.

Southside Bancshares Stock Performance

NASDAQ:SBSI opened at $27.27 on Friday. The company has a market cap of $825.82 million, a price-to-earnings ratio of 10.14 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.76 and a quick ratio of 0.75. The stock’s 50 day simple moving average is $28.28 and its two-hundred day simple moving average is $29.24. Southside Bancshares has a 1 year low of $25.38 and a 1 year high of $34.40.

Southside Bancshares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s payout ratio is 53.53%.

Insider Transactions at Southside Bancshares

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

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.