Southside Bancshares (NASDAQ:SBSI) Announces Quarterly Earnings Results

Southside Bancshares (NASDAQ:SBSI - Get Free Report) released its quarterly earnings results on Tuesday. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04, Briefing.com reports. The business had revenue of $100.29 million for the quarter, compared to the consensus estimate of $67.37 million. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. During the same period last year, the firm earned $0.71 earnings per share.

Southside Bancshares Price Performance

Shares of NASDAQ:SBSI traded up $0.53 during trading on Friday, hitting $28.58. 94,700 shares of the company's stock were exchanged, compared to its average volume of 115,760. The business's 50-day simple moving average is $28.58 and its 200 day simple moving average is $31.51. The company has a market cap of $868.39 million, a price-to-earnings ratio of 9.82 and a beta of 0.58. Southside Bancshares has a 52-week low of $25.30 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SBSI shares. StockNews.com downgraded Southside Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday. Raymond James started coverage on Southside Bancshares in a research note on Tuesday, January 14th. They set a "market perform" rating for the company. Finally, Stephens decreased their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th.

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.