Southside Bancshares, Inc. to Post Q3 2019 Earnings of $0.58 Per Share, SunTrust Banks Forecasts (NASDAQ:SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) – Equities researchers at SunTrust Banks cut their Q3 2019 earnings per share (EPS) estimates for shares of Southside Bancshares in a report issued on Tuesday, July 30th. SunTrust Banks analyst M. Young now expects that the bank will earn $0.58 per share for the quarter, down from their prior forecast of $0.59. SunTrust Banks also issued estimates for Southside Bancshares’ Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.25 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.59 EPS and FY2020 earnings at $2.31 EPS.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, July 26th. The bank reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Southside Bancshares had a return on equity of 10.04% and a net margin of 27.23%. The company had revenue of $55.41 million during the quarter, compared to the consensus estimate of $55.28 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the company. BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th.

Shares of Southside Bancshares stock opened at $33.68 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.28. Southside Bancshares has a 12 month low of $29.28 and a 12 month high of $37.32. The business’s fifty day moving average is $32.61. The firm has a market capitalization of $1.16 billion, a PE ratio of 15.96 and a beta of 0.74.

In related news, Director Tony K. Morgan acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average cost of $33.01 per share, with a total value of $33,010.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its stake in Southside Bancshares by 16.2% during the 2nd quarter. Swiss National Bank now owns 59,618 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 8,300 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Southside Bancshares by 477.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,155 shares of the bank’s stock worth $37,000 after buying an additional 955 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Southside Bancshares by 51.9% during the 2nd quarter. First Trust Advisors LP now owns 63,084 shares of the bank’s stock worth $2,043,000 after buying an additional 21,567 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Southside Bancshares by 15.6% during the 2nd quarter. Fisher Asset Management LLC now owns 41,970 shares of the bank’s stock worth $1,359,000 after buying an additional 5,674 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Southside Bancshares by 27.2% during the 2nd quarter. Creative Planning now owns 80,505 shares of the bank’s stock worth $2,607,000 after buying an additional 17,200 shares in the last quarter. 53.29% of the stock is owned by institutional investors and hedge funds.

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 deposit.

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Earnings History and Estimates for Southside Bancshares (NASDAQ:SBSI)

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