Southside Bancshares, Inc. (NYSE:SBSI) Shares to Pay Quarterly Dividend of $0.37

Key Points

• Southside Bancshares declared a quarterly dividend of $0.37 per share, payable December 9 to shareholders of record November 25. The annualized dividend is $1.48, yielding about 4.3%.
• The company reported quarterly EPS of $0.93, beating the $0.79 consensus estimate, and revenue of $76.14 million versus expectations of $72.67 million.
• Recent analyst ratings include several upgrades; MarketBeat’s consensus is “Moderate Buy”, with an average price target of $34.75.

Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.37 per share on Wednesday, December 9th. This represents a $1.48 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, November 25th.

Southside Bancshares Price Performance

Shares of NYSE SBSI opened at $34.39 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.39 and a beta of 0.57. Southside Bancshares has a 12 month low of $28.04 and a 12 month high of $36.35. The firm's 50 day simple moving average is $31.63 and its 200-day simple moving average is $32.45. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.78 and a quick ratio of 0.78.

Southside Bancshares (NYSE:SBSI - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. Southside Bancshares had a net margin of 21.48% and a return on equity of 11.58%. The firm had revenue of $76.14 million during the quarter, compared to analysts' expectations of $72.67 million. Analysts expect that Southside Bancshares will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBSI shares. Piper Sandler dropped their price target on shares of Southside Bancshares from $37.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Zacks Research upgraded Southside Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, October 30th. Weiss Ratings upgraded Southside Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 30th. Wall Street Zen raised Southside Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Stephens set a $37.00 price target on Southside Bancshares in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.75.

About Southside Bancshares

Southside Bancshares, Inc is a Texas-based financial holding company and the parent company of Southside Bank. Founded in 1960 and headquartered in Tyler, Texas, the company provides banking and financial services to individuals, businesses, and institutions.

Southside Bank offers a range of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans, and other forms of business credit.

The bank also provides treasury management, online and mobile banking, wealth management, trust and fiduciary services, and other financial solutions.

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