Southside Bancshares (SBSI) Projected to Post Quarterly Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI) is anticipated to release its results before the market opens on Thursday, January 29th. Analysts expect Southside Bancshares to post earnings of $0.80 per share and revenue of $71.7020 million for the quarter.

Southside Bancshares Price Performance

NASDAQ:SBSI opened at $32.21 on Tuesday. Southside Bancshares has a 52 week low of $25.85 and a 52 week high of $33.96. The stock’s fifty day moving average is $31.03 and its two-hundred day moving average is $29.99. The company has a market capitalization of $968.28 million, a P/E ratio of 11.07 and a beta of 0.64. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.5%. The ex-dividend date was Thursday, November 20th. Southside Bancshares’s payout ratio is 62.61%.

Insider Transactions at Southside Bancshares

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,807 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was bought at an average price of $30.68 per share, with a total value of $55,438.76. Following the transaction, the director directly owned 389,288 shares of the company’s stock, valued at approximately $11,943,355.84. This represents a 0.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

Institutional Trading of Southside Bancshares

Several hedge funds have recently modified their holdings of SBSI. Millennium Management LLC grew its stake in Southside Bancshares by 388.2% during the 3rd quarter. Millennium Management LLC now owns 251,429 shares of the bank’s stock worth $7,103,000 after purchasing an additional 199,930 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Southside Bancshares in the 1st quarter valued at about $1,520,000. Mackenzie Financial Corp acquired a new position in shares of Southside Bancshares during the third quarter worth about $1,339,000. Invesco Ltd. grew its position in shares of Southside Bancshares by 16.9% during the second quarter. Invesco Ltd. now owns 290,213 shares of the bank’s stock worth $8,541,000 after buying an additional 42,057 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Southside Bancshares during the third quarter worth approximately $1,044,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.50.

About Southside Bancshares

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.