Southside Bancshares (SBSI) to Release Quarterly Earnings on Friday

Southside Bancshares (NASDAQ:SBSI) will likely be posting its results before the market opens on Friday, October 24th. Analysts expect Southside Bancshares to post earnings of $0.72 per share and revenue of $70.2840 million for the quarter.

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI opened at $27.84 on Wednesday. The firm has a market capitalization of $837.52 million, a PE ratio of 9.57 and a beta of 0.64. Southside Bancshares has a 12 month low of $25.85 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50-day moving average of $29.54 and a two-hundred day moving average of $29.15.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Thursday, August 21st. Southside Bancshares’s dividend payout ratio (DPR) is 51.06%.

Hedge Funds Weigh In On Southside Bancshares

Several institutional investors have recently made changes to their positions in SBSI. EverSource Wealth Advisors LLC lifted its holdings in shares of Southside Bancshares by 1,083.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock worth $28,000 after purchasing an additional 867 shares during the last quarter. First Trust Advisors LP bought a new stake in Southside Bancshares in the second quarter valued at $202,000. Curi Capital LLC acquired a new position in shares of Southside Bancshares during the second quarter valued at $219,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Southside Bancshares by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the bank’s stock valued at $324,000 after acquiring an additional 706 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of Southside Bancshares during the second quarter worth about $356,000. 55.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBSI. Stephens reissued an “equal weight” rating and issued a $36.00 target price on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods boosted their price objective on Southside Bancshares from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.50.

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.