Southside Bancshares (SBSI) Projected to Post Earnings on Thursday

Southside Bancshares (NASDAQ:SBSI - Get Free Report) is expected to be issuing its quarterly earnings data before the market opens on Thursday, July 24th. Analysts expect the company to announce earnings of $0.69 per share and revenue of $68.00 million for the quarter.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.04. The firm had revenue of $100.29 million during the quarter, compared to analysts' expectations of $67.37 million. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. During the same quarter in the prior year, the company earned $0.71 EPS. On average, analysts expect Southside Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Southside Bancshares Stock Up 1.8%

SBSI stock traded up $0.55 during trading hours on Thursday, reaching $31.21. 159,551 shares of the stock were exchanged, compared to its average volume of 117,709. The firm's 50-day moving average is $29.18 and its 200-day moving average is $29.61. The company has a market cap of $942.98 million, a price-to-earnings ratio of 10.73 and a beta of 0.67. 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 has a 12 month low of $25.85 and a 12 month high of $38.00.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.61%. Southside Bancshares's dividend payout ratio is 49.48%.

Hedge Funds Weigh In On Southside Bancshares

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Southside Bancshares in the 1st quarter valued at about $1,520,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Southside Bancshares by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the bank's stock valued at $2,038,000 after purchasing an additional 6,459 shares during the last quarter. Empowered Funds LLC lifted its stake in Southside Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,211 shares of the bank's stock valued at $2,381,000 after purchasing an additional 4,198 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Southside Bancshares by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the bank's stock valued at $494,000 after purchasing an additional 701 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, May 9th.

About Southside Bancshares

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.