Southside Bancshares (NYSE:SBSI) Posts Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Southside Bancshares reported **$0.72 earnings per share (EPS)** for the quarter, exceeding analysts' expectations of **$0.69** by **$0.03**.
• The company's revenue for the quarter was **$68.84 million**, surpassing the forecast of **$67.90 million**.
• Wall Street Zen upgraded Southside Bancshares from a **"sell"** rating to a **"hold"** rating following the earnings announcement.

Southside Bancshares (NYSE:SBSI - Get Free Report) issued its quarterly earnings data on Friday. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.03, Zacks reports. Southside Bancshares had a net margin of 19.07% and a return on equity of 10.59%. The business had revenue of $68.84 million during the quarter, compared to the consensus estimate of $67.90 million.

Southside Bancshares Stock Performance

NYSE SBSI traded down $0.81 on Wednesday, hitting $29.93. 145,722 shares of the stock traded hands, compared to its average volume of 118,135. The stock's fifty day simple moving average is $29.50. Southside Bancshares has a 12 month low of $25.85 and a 12 month high of $38.00. The company has a market cap of $900.29 million, a price-to-earnings ratio of 10.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.69 and a quick ratio of 0.75.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday.

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 deposit.