Southside Bancshares, Inc. Announces Quarterly Dividend of $0.36 (NYSE:SBSI)

Key Points

• $0.36 quarterly dividend declared, payable June 1 to holders of record on May 18 with an ex-dividend date of May 18, representing an annualized yield of about 4.3%.
• The company has increased its dividend annually for 30 consecutive years, though its average dividend growth over the past three years was reported at 0.0%.
• Southside reported Q1 EPS of $0.78, beating estimates of $0.76 while revenue of $70.29M slightly missed expectations; analysts have an average rating of "Hold" and an average target price of $35.

Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Monday, May 18th will be given a dividend of 0.36 per share on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, May 18th.

Southside Bancshares has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years.

Southside Bancshares Price Performance

Shares of Southside Bancshares stock opened at $33.45 on Thursday. The business has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $31.11. Southside Bancshares has a 12 month low of $26.32 and a 12 month high of $34.53. The stock has a market capitalization of $994.99 million, a P/E ratio of 14.17 and a beta of 0.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74.

Southside Bancshares (NYSE:SBSI - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%.The business had revenue of $70.29 million during the quarter, compared to analysts' expectations of $70.92 million. As a group, analysts predict that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler assumed coverage on Southside Bancshares in a report on Wednesday, April 15th. They set a "neutral" rating and a $35.00 target price for the company. Hovde Group raised their target price on shares of Southside Bancshares from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods upped their price target on Southside Bancshares from $31.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, February 2nd. Weiss Ratings raised Southside Bancshares from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday. Finally, Wall Street Zen raised Southside Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $35.00.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company's offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.

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