Equities analysts forecast that Southside Bancshares, Inc. (NASDAQ:SBSI) will report $0.55 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Southside Bancshares’ earnings. Southside Bancshares posted earnings per share of $0.57 during the same quarter last year, which would indicate a negative year over year growth rate of 3.5%. The firm is expected to issue its next earnings results before the market opens on Friday, July 26th.
According to Zacks, analysts expect that Southside Bancshares will report full year earnings of $2.25 per share for the current financial year, with EPS estimates ranging from $2.23 to $2.27. For the next fiscal year, analysts anticipate that the business will post earnings of $2.36 per share, with EPS estimates ranging from $2.34 to $2.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Southside Bancshares had a net margin of 28.23% and a return on equity of 10.37%. The firm had revenue of $53.05 million for the quarter, compared to analyst estimates of $54.48 million. During the same quarter last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis.
Southside Bancshares stock traded down $0.11 during mid-day trading on Monday, reaching $32.21. The company had a trading volume of 90,339 shares, compared to its average volume of 86,446. Southside Bancshares has a fifty-two week low of $29.28 and a fifty-two week high of $37.32. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $1.09 billion, a P/E ratio of 14.43 and a beta of 0.74. The company has a fifty day moving average of $32.56.
In related news, Director Tony K. Morgan bought 1,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $33.01 per share, for a total transaction of $33,010.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired 1,127 shares of company stock worth $37,429 in the last 90 days. Company insiders own 5.80% of the company’s stock.
Several large investors have recently modified their holdings of SBSI. BNP Paribas Arbitrage SA lifted its holdings in shares of Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock worth $221,000 after purchasing an additional 6,653 shares during the period. United Services Automobile Association acquired a new position in shares of Southside Bancshares during the fourth quarter worth $236,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Southside Bancshares by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock worth $348,000 after purchasing an additional 8,565 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in shares of Southside Bancshares during the fourth quarter worth $388,000. Finally, New York State Teachers Retirement System lifted its holdings in shares of Southside Bancshares by 5.2% during the first quarter. New York State Teachers Retirement System now owns 12,610 shares of the bank’s stock worth $419,000 after purchasing an additional 626 shares during the period. Institutional investors own 53.33% of the company’s stock.
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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