Southside Bancshares (NYSE:SBSI) Issues 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) released 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. The business had revenue of $68.84 million during the quarter, compared to analysts' expectations of $67.90 million. Southside Bancshares had a net margin of 19.49% and a return on equity of 11.00%.

Southside Bancshares Price Performance

Shares of NYSE SBSI traded down $0.54 during mid-day trading on Friday, reaching $30.12. 115,962 shares of the company's stock traded hands, compared to its average volume of 102,712. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.69 and a current ratio of 0.69. Southside Bancshares has a 1-year low of $25.85 and a 1-year high of $38.00. The company has a market capitalization of $910.05 million, a PE ratio of 10.35 and a beta of 0.67. The business has a 50-day moving average of $29.44.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report 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.

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