Zacks: Analysts Expect Southside Bancshares, Inc. (SBSI) to Announce $0.62 EPS
Equities analysts expect Southside Bancshares, Inc. (NASDAQ:SBSI) to report earnings per share of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Southside Bancshares’ earnings. The highest EPS estimate is $0.63 and the lowest is $0.60. Southside Bancshares posted earnings of $0.49 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.5%. The business is scheduled to report its next quarterly earnings report on Friday, October 26th.
On average, analysts expect that Southside Bancshares will report full-year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.25 to $2.29. For the next year, analysts anticipate that the business will report earnings of $2.52 per share, with EPS estimates ranging from $2.48 to $2.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, July 27th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). Southside Bancshares had a return on equity of 9.07% and a net margin of 24.55%. The business had revenue of $54.12 million for the quarter, compared to the consensus estimate of $57.36 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis.
In other Southside Bancshares news, COO Brian K. Mccabe sold 1,670 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $36.81, for a total transaction of $61,472.70. Following the completion of the sale, the chief operating officer now directly owns 17,706 shares in the company, valued at $651,757.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy F. Alexander sold 16,007 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $35.36, for a total value of $566,007.52. Following the sale, the insider now owns 11,780 shares of the company’s stock, valued at $416,540.80. The disclosure for this sale can be found here. 17.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SBSI. Wells Fargo & Company MN lifted its stake in shares of Southside Bancshares by 7.6% in the 1st quarter. Wells Fargo & Company MN now owns 103,271 shares of the bank’s stock valued at $3,587,000 after acquiring an additional 7,250 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Southside Bancshares by 26.4% in the 1st quarter. Victory Capital Management Inc. now owns 31,510 shares of the bank’s stock valued at $1,095,000 after acquiring an additional 6,581 shares during the last quarter. Swiss National Bank lifted its stake in shares of Southside Bancshares by 4.1% in the 1st quarter. Swiss National Bank now owns 48,618 shares of the bank’s stock valued at $1,689,000 after acquiring an additional 1,900 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Southside Bancshares by 3.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 141,459 shares of the bank’s stock valued at $4,915,000 after acquiring an additional 4,425 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Southside Bancshares by 1.1% in the 1st quarter. Northern Trust Corp now owns 542,986 shares of the bank’s stock valued at $18,863,000 after acquiring an additional 5,942 shares during the last quarter. Institutional investors own 47.05% of the company’s stock.
NASDAQ SBSI opened at $35.05 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.66 and a quick ratio of 0.66. Southside Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $37.57. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 18.50 and a beta of 0.77.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Thursday, August 23rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date was Wednesday, August 22nd. Southside Bancshares’s payout ratio is presently 63.49%.
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 deposit.
Featured Article: How to Invest in the Dividend Aristocrat Index
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.