Southside Bancshares (SBSI) to Release Earnings on Friday

Key Points

• Southside Bancshares is set to announce its earnings on October 24th, with analysts forecasting earnings of $0.72 per share and revenue of $70.28 million.
• The company recently declared a quarterly dividend of $0.36, reflecting an annualized dividend of $1.44 and a yield of 5.4%.
• With a current market capitalization of $794.86 million, Southside Bancshares has an average analyst rating of "Hold" and a target price of $34.50.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) is projected to post its results before the market opens on Friday, October 24th. Analysts expect Southside Bancshares to post earnings of $0.72 per share and revenue of $70.2840 million for the quarter.

Southside Bancshares Price Performance

NASDAQ SBSI opened at $26.43 on Friday. Southside Bancshares has a 1 year low of $25.85 and a 1 year high of $38.00. The company has a fifty day simple moving average of $29.64 and a 200 day simple moving average of $29.15. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market cap of $794.86 million, a P/E ratio of 9.08 and a beta of 0.64.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, August 21st. Southside Bancshares's dividend payout ratio (DPR) is currently 51.06%.

Analyst Ratings Changes

Several analysts recently weighed in on SBSI shares. Stephens restated an "equal weight" rating and set a $36.00 target price on shares of Southside Bancshares in a research note on Friday, September 19th. Keefe, Bruyette & Woods increased their price objective on Southside Bancshares from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $34.50.

Institutional Trading of Southside Bancshares

Institutional investors have recently made changes to their positions in the business. Invesco Ltd. raised its position in Southside Bancshares by 16.9% in the second quarter. Invesco Ltd. now owns 290,213 shares of the bank's stock worth $8,541,000 after purchasing an additional 42,057 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Southside Bancshares by 30.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 142,955 shares of the bank's stock valued at $4,207,000 after buying an additional 33,443 shares in the last quarter. Public Sector Pension Investment Board grew its position in Southside Bancshares by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 96,976 shares of the bank's stock valued at $2,854,000 after acquiring an additional 6,668 shares during the period. Empowered Funds LLC raised its stake in Southside Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,211 shares of the bank's stock worth $2,381,000 after acquiring an additional 4,198 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Southside Bancshares by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the bank's stock worth $2,038,000 after acquiring an additional 6,459 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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