Southside Bancshares, Inc. (NASDAQ:SBSI) – Analysts at SunTrust Banks increased their Q1 2018 earnings estimates for Southside Bancshares in a report issued on Tuesday. SunTrust Banks analyst M. Young now expects that the bank will post earnings of $0.58 per share for the quarter, up from their previous forecast of $0.56. SunTrust Banks also issued estimates for Southside Bancshares’ Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.62 EPS, FY2018 earnings at $2.44 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.64 EPS.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Southside Bancshares had a net margin of 24.14% and a return on equity of 9.50%. The firm had revenue of $47.41 million for the quarter, compared to analysts’ expectations of $53.50 million.
Southside Bancshares (NASDAQ:SBSI) opened at $33.87 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 1.57. Southside Bancshares has a 1-year low of $31.20 and a 1-year high of $37.57. The firm has a market cap of $996.91, a P/E ratio of 17.73 and a beta of 0.77.
Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock worth $225,000 after buying an additional 158 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,754 shares of the bank’s stock worth $306,000 after buying an additional 213 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 10,607 shares of the bank’s stock worth $371,000 after buying an additional 257 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 11,218 shares of the bank’s stock worth $391,000 after buying an additional 273 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Southside Bancshares by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,143 shares of the bank’s stock worth $739,000 after buying an additional 1,158 shares in the last quarter. 43.19% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Tony K. Morgan bought 1,000 shares of the stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $35.45 per share, with a total value of $35,450.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Bosworth sold 4,512 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $33.94, for a total transaction of $153,137.28. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, February 21st. Southside Bancshares’s dividend payout ratio is currently 58.64%.
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About Southside Bancshares
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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