Southside Bancshares (NASDAQ:SBSI) Releases Earnings Results, Misses Estimates By $0.04 EPS

Southside Bancshares (NASDAQ:SBSI) issued its quarterly earnings results on Thursday. The bank reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.04), Briefing.com reports. Southside Bancshares had a net margin of 21.92% and a return on equity of 11.59%. The business had revenue of $112.48 million during the quarter, compared to analyst estimates of $67.10 million. During the same quarter last year, the firm posted $0.84 earnings per share.

Southside Bancshares Trading Down 1.4 %

NASDAQ:SBSI traded down $0.40 during mid-day trading on Friday, reaching $27.27. The company’s stock had a trading volume of 139,992 shares, compared to its average volume of 130,305. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $825.74 million, a P/E ratio of 9.70 and a beta of 0.54. The company’s fifty day simple moving average is $28.32 and its two-hundred day simple moving average is $29.25. Southside Bancshares has a twelve month low of $25.38 and a twelve month high of $34.40.

Southside Bancshares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.44 annualized dividend and a yield of 5.28%. Southside Bancshares’s payout ratio is currently 51.25%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the transaction, the chief executive officer now owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $30.27, for a total transaction of $450,932.19. Following the completion of the sale, the chief executive officer now directly owns 56,491 shares in the company, valued at $1,709,982.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herbert C. Buie acquired 1,990 shares of Southside Bancshares stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average cost of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the purchase, the director now directly owns 407,501 shares in the company, valued at $13,251,932.52. The disclosure for this purchase can be found here. 5.90% of the stock is owned by company insiders.

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.