Analysts forecast that Southside Bancshares, Inc. (NASDAQ:SBSI) will report sales of $54.75 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southside Bancshares’ earnings, with estimates ranging from $54.20 million to $55.30 million. Southside Bancshares posted sales of $56.35 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.8%. The firm is scheduled to report its next earnings report on Friday, July 26th.
On average, analysts expect that Southside Bancshares will report full year sales of $219.90 million for the current fiscal year, with estimates ranging from $218.00 million to $221.80 million. For the next fiscal year, analysts expect that the firm will report sales of $232.40 million, with estimates ranging from $230.40 million to $234.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The business had revenue of $53.05 million during the quarter, compared to analysts’ expectations of $54.48 million. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share.
Several hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its position in Southside Bancshares by 28.2% during the first quarter. Advisor Group Inc. now owns 1,445 shares of the bank’s stock valued at $48,000 after purchasing an additional 318 shares in the last quarter. SG Americas Securities LLC raised its position in Southside Bancshares by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,648 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock valued at $221,000 after purchasing an additional 6,653 shares in the last quarter. United Services Automobile Association acquired a new position in Southside Bancshares during the fourth quarter valued at approximately $236,000. Finally, PNC Financial Services Group Inc. raised its position in Southside Bancshares by 385.6% during the first quarter. PNC Financial Services Group Inc. now owns 9,867 shares of the bank’s stock valued at $329,000 after purchasing an additional 7,835 shares in the last quarter. Institutional investors and hedge funds own 53.35% of the company’s stock.
Shares of SBSI stock traded down $0.40 during trading on Friday, hitting $33.09. The company had a trading volume of 3,227 shares, compared to its average volume of 90,249. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.03. The stock has a market cap of $1.14 billion, a P/E ratio of 15.68 and a beta of 0.82. Southside Bancshares has a one year low of $29.28 and a one year high of $37.32.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a $0.31 dividend. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, May 22nd. Southside Bancshares’s payout ratio is 58.77%.
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 deposit.
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