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

Southside Bancshares (NASDAQ:SBSI - Get Free Report) posted its earnings results on Thursday. The bank reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.04), Briefing.com reports. The firm had revenue of $112.48 million during the quarter, compared to analysts' expectations of $67.10 million. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. During the same quarter in the prior year, the firm posted $0.84 earnings per share.

Southside Bancshares Trading Down 1.4 %

NASDAQ SBSI traded down $0.40 during trading hours on Friday, hitting $27.27. 139,992 shares of the company were exchanged, compared to its average volume of 130,305. The stock has a 50-day moving average price of $28.32 and a 200 day moving average price of $29.25. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.86. Southside Bancshares has a 52 week low of $25.38 and a 52 week high of $34.40. The stock has a market cap of $825.74 million, a PE ratio of 9.70 and a beta of 0.54.

Southside Bancshares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.36 per share. 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%.

Insiders Place Their Bets

In related news, Director Herbert C. Buie acquired 1,990 shares of Southside Bancshares stock in a transaction on Tuesday, January 30th. The shares were bought at an average cost of $32.52 per share, with a total value of $64,714.80. Following the completion of the purchase, the director now directly owns 407,501 shares of the company's stock, valued at approximately $13,251,932.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Lee R. Gibson sold 14,897 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was 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 available at this link. Also, Director Herbert C. Buie bought 1,990 shares of the business's stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average cost of $32.52 per share, for a total transaction of $64,714.80. Following the purchase, the director now owns 407,501 shares of the company's stock, valued at approximately $13,251,932.52. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by 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.