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. The company's loan portfolio comprises consumer loans that include 1-4 family residential loans, home equity loans, home improvement loans, automobile loans, and other consumer related loans; commercial loans, such as short-term working capital loans for inventory and accounts receivable, short and medium-term loans for equipment or other business capital expansion, commercial real estate loans, and municipal loans; and construction loans for 1-4 family residential and commercial real estate. It also offers wealth management and trust services consisting of investment management, administration, revocable and testamentary trusts, and custodian services for individuals, partnerships, and corporations; safe deposit services; and brokerage services. As of December 31, 2021, the company operated through 56 banking facilities and 73 ATMs/ITMs. Southside Bancshares, Inc. was founded in 1960 and is headquartered in Tyler, Texas.
Southside Bancshares Stock Down 1.6 %
Shares of Southside Bancshares stock traded down $0.67 on Wednesday, reaching $41.03. The stock had a trading volume of 285 shares, compared to its average volume of 70,062. The company has a 50 day moving average price of $38.27 and a 200 day moving average price of $39.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. Southside Bancshares has a 1 year low of $35.44 and a 1 year high of $45.36. The stock has a market capitalization of $1.32 billion, a P/E ratio of 12.49 and a beta of 0.57.
Southside Bancshares (NASDAQ:SBSI - Get Rating) last issued its quarterly earnings data on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities research analysts forecast that Southside Bancshares will post 3.45 EPS for the current year.
Southside Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 17th. Southside Bancshares's dividend payout ratio is presently 40.72%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Southside Bancshares to $41.00 in a report on Monday, July 4th. Stephens lifted their price objective on shares of Southside Bancshares to $43.00 in a research report on Tuesday, July 26th.
Insiders Place Their Bets
In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $39.44, for a total transaction of $79,077.20. Following the sale, the insider now owns 2,021 shares of the company's stock, valued at approximately $79,708.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.70% of the stock is owned by insiders.