Analysts Anticipate Southside Bancshares, Inc. (SBSI) Will Post Earnings of $0.58 Per Share

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Equities research analysts predict that Southside Bancshares, Inc. (NASDAQ:SBSI) will announce $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Southside Bancshares’ earnings. The lowest EPS estimate is $0.56 and the highest is $0.60. Southside Bancshares reported earnings per share of $0.41 during the same quarter last year, which indicates a positive year over year growth rate of 41.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 5th.

On average, analysts expect that Southside Bancshares will report full-year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $2.17 to $2.21. For the next financial year, analysts forecast that the business will post earnings of $2.31 per share, with EPS estimates ranging from $2.27 to $2.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Southside Bancshares.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, October 26th. The bank reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The company had revenue of $54.82 million during the quarter, compared to analyst estimates of $56.10 million. Southside Bancshares had a net margin of 25.71% and a return on equity of 9.25%.

Several brokerages recently commented on SBSI. BidaskClub raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th.

Shares of SBSI stock traded up $0.10 during trading hours on Friday, reaching $35.14. The company had a trading volume of 111,700 shares, compared to its average volume of 132,354. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.24 billion, a P/E ratio of 18.59 and a beta of 0.85. Southside Bancshares has a 1-year low of $29.28 and a 1-year high of $37.32.

In related news, Director Tony K. Morgan acquired 1,000 shares of the firm’s stock in a transaction dated Monday, December 10th. The stock was bought at an average price of $31.85 per share, for a total transaction of $31,850.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tony K. Morgan acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average price of $31.15 per share, with a total value of $62,300.00. The disclosure for this purchase can be found here. Insiders acquired a total of 3,134 shares of company stock worth $98,467 in the last three months. Company insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SBSI. Commerce Bank bought a new position in Southside Bancshares during the third quarter worth about $204,000. SG Americas Securities LLC bought a new position in Southside Bancshares during the second quarter worth about $227,000. BlueMountain Capital Management LLC grew its holdings in Southside Bancshares by 213.9% during the second quarter. BlueMountain Capital Management LLC now owns 7,117 shares of the bank’s stock worth $240,000 after purchasing an additional 4,850 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Southside Bancshares during the third quarter worth approximately $274,000. Finally, US Bancorp DE lifted its position in Southside Bancshares by 27.4% during the second quarter. US Bancorp DE now owns 8,081 shares of the bank’s stock worth $272,000 after acquiring an additional 1,736 shares during the last quarter. Institutional investors own 51.33% 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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Earnings History and Estimates for Southside Bancshares (NASDAQ:SBSI)

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