Wall Street brokerages expect Southside Bancshares, Inc. (NASDAQ:SBSI) to report earnings of $0.55 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Southside Bancshares’ earnings. Southside Bancshares reported earnings of $0.57 per share in the same quarter last year, which indicates a negative year over year growth rate of 3.5%. The company is expected to announce its next quarterly earnings report 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 fiscal year, with EPS estimates ranging from $2.23 to $2.27. For the next year, analysts forecast that the company will post earnings of $2.36 per share, with EPS estimates ranging from $2.34 to $2.37. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. The firm had revenue of $53.05 million for the quarter, compared to the consensus estimate of $54.48 million. Southside Bancshares had a net margin of 28.23% and a return on equity of 10.37%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS.
Shares of NASDAQ SBSI traded down $0.29 during mid-day trading on Monday, reaching $31.92. The company had a trading volume of 55,070 shares, compared to its average volume of 111,744. 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 50 day simple moving average of $32.56. The stock has a market cap of $1.08 billion, a PE ratio of 15.13 and a beta of 0.75. Southside Bancshares has a 52-week low of $29.28 and a 52-week high of $37.32.
In related news, Director Tony K. Morgan acquired 1,000 shares of Southside Bancshares stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average price of $33.01 per share, for a total transaction of $33,010.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 1,127 shares of company stock valued at $37,429 in the last quarter. Company insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Southside Bancshares by 2.7% during the 4th quarter. BlackRock Inc. now owns 4,878,860 shares of the bank’s stock valued at $154,903,000 after acquiring an additional 130,535 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Southside Bancshares by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,631,651 shares of the bank’s stock valued at $51,805,000 after acquiring an additional 67,337 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Southside Bancshares by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 389,538 shares of the bank’s stock worth $12,367,000 after buying an additional 60,995 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Southside Bancshares by 276.2% during the fourth quarter. Bank of America Corp DE now owns 59,232 shares of the bank’s stock worth $1,881,000 after buying an additional 43,489 shares in the last quarter. Finally, Chatham Capital Group Inc. grew its holdings in shares of Southside Bancshares by 0.9% during the first quarter. Chatham Capital Group Inc. now owns 46,633 shares of the bank’s stock worth $1,550,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 53.33% of the company’s stock.
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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