Southside Bancshares (NASDAQ:SBSI) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Southside Bancshares (NASDAQ:SBSI - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05), Briefing.com reports. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the previous year, the business posted $0.60 EPS.

Southside Bancshares Stock Down 2.4 %

Shares of SBSI traded down $0.81 during midday trading on Thursday, reaching $32.75. 182,907 shares of the stock were exchanged, compared to its average volume of 115,858. Southside Bancshares has a 52 week low of $25.30 and a 52 week high of $36.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $33.28 and its two-hundred day moving average is $30.07. The company has a market capitalization of $991.34 million, a P/E ratio of 12.17 and a beta of 0.54.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.40%. The ex-dividend date was Thursday, August 22nd. Southside Bancshares's dividend payout ratio (DPR) is presently 53.53%.

Insider Transactions at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the transaction, the insider now owns 16,441 shares of the company's stock, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider T L. Arnold, Jr. sold 3,999 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the transaction, the insider now owns 16,441 shares of the company's stock, valued at approximately $520,028.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider T L. Arnold, Jr. sold 4,667 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the sale, the insider now directly owns 16,441 shares in the company, valued at approximately $554,226.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,890 shares of company stock valued at $500,319. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBSI has been the topic of several recent research reports. Hovde Group increased their price target on Southside Bancshares from $31.00 to $37.00 and gave the company a "market perform" rating in a report on Monday, July 29th. StockNews.com downgraded Southside Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, October 10th.

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.