Zacks: Brokerages Expect Southside Bancshares, Inc. (NASDAQ:SBSI) to Announce $0.70 EPS

Equities research analysts predict that Southside Bancshares, Inc. (NASDAQ:SBSI) will announce earnings of $0.70 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southside Bancshares’ earnings. The lowest EPS estimate is $0.67 and the highest is $0.72. Southside Bancshares reported earnings per share of $0.14 in the same quarter last year, which suggests a positive year-over-year growth rate of 400%. The business is expected to announce its next quarterly earnings report on Tuesday, May 4th.

On average, analysts expect that Southside Bancshares will report full year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.70 to $2.79. For the next financial year, analysts anticipate that the firm will post earnings of $2.67 per share, with EPS estimates ranging from $2.60 to $2.73. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Southside Bancshares.

Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Tuesday, January 26th. The bank reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.25. Southside Bancshares had a net margin of 24.55% and a return on equity of 8.68%. The firm had revenue of $62.80 million during the quarter, compared to the consensus estimate of $60.40 million. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis.

Separately, Zacks Investment Research raised Southside Bancshares from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, April 2nd.

In other Southside Bancshares news, CEO Lee R. Gibson sold 12,036 shares of the company’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $34.03, for a total transaction of $409,585.08. Following the completion of the sale, the chief executive officer now directly owns 51,452 shares in the company, valued at $1,750,911.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suni M. Davis sold 810 shares of the firm’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $40.00, for a total value of $32,400.00. Following the completion of the transaction, the insider now owns 4,926 shares in the company, valued at $197,040. The disclosure for this sale can be found here. In the last three months, insiders sold 25,585 shares of company stock valued at $929,018. Company insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBSI. SG Americas Securities LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $186,000. AQR Capital Management LLC purchased a new stake in Southside Bancshares during the 3rd quarter worth $207,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Southside Bancshares in the 3rd quarter valued at $232,000. Trexquant Investment LP purchased a new position in Southside Bancshares in the fourth quarter valued at about $240,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Southside Bancshares by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 11,790 shares of the bank’s stock worth $289,000 after purchasing an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Shares of SBSI traded down $0.22 during mid-day trading on Thursday, reaching $38.32. 5,094 shares of the company’s stock were exchanged, compared to its average volume of 146,713. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.37. Southside Bancshares has a 52-week low of $23.51 and a 52-week high of $41.99. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 17.88 and a beta of 0.61. The company has a 50-day simple moving average of $37.83 and a two-hundred day simple moving average of $31.78.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were paid a dividend of $0.32 per share. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, February 17th. Southside Bancshares’s dividend payout ratio (DPR) is currently 58.18%.

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

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