Southside Bancshares, Inc. Declares Quarterly Dividend of $0.36 (NASDAQ:SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.36 per share by the bank on Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, November 21st.

Southside Bancshares has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 30 consecutive years. Southside Bancshares has a payout ratio of 50.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Southside Bancshares to earn $2.79 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 51.6%.

Southside Bancshares Price Performance

Southside Bancshares stock traded up $0.50 during midday trading on Friday, reaching $35.89. 144,805 shares of the stock were exchanged, compared to its average volume of 116,738. The firm has a market cap of $1.09 billion, a PE ratio of 12.96 and a beta of 0.55. Southside Bancshares has a 52 week low of $25.30 and a 52 week high of $37.58. The company's fifty day moving average is $33.35 and its 200-day moving average is $30.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.05). The firm had revenue of $113.87 million during the quarter, compared to analysts' expectations of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, sell-side analysts forecast that Southside Bancshares will post 2.98 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SBSI shares. StockNews.com lowered Southside Bancshares from a "hold" rating to a "sell" rating in a research note on Tuesday. Hovde Group raised their target price on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, July 29th.

Insiders Place Their Bets

In related news, insider T L. Arnold, Jr. sold 4,667 shares of Southside Bancshares stock in a transaction on 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 owns 16,441 shares in the company, valued at $554,226.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Lee R. Gibson sold 3,300 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total transaction of $121,242.00. Following the completion of the transaction, the chief executive officer now owns 57,272 shares of the company's stock, valued at $2,104,173.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $157,324.57. Following the completion of the sale, the insider now directly owns 16,441 shares in the company, valued at approximately $554,226.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,187 shares of company stock worth $358,487. 5.90% of the stock is currently owned by company insiders.

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.