Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Thursday, November 16th will be paid a dividend of 0.28 per share by the bank on Thursday, November 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, November 15th.
Southside Bancshares has raised its dividend by an average of 5.8% annually over the last three years and has increased its dividend every year for the last 19 years. Southside Bancshares has a payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Southside Bancshares to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 49.6%.
Southside Bancshares (SBSI) opened at $34.34 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. Southside Bancshares has a 1-year low of $31.20 and a 1-year high of $38.99. The company has a market cap of $1,001.33, a PE ratio of 17.84 and a beta of 0.75.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. The business had revenue of $44.37 million during the quarter, compared to the consensus estimate of $51.00 million. research analysts expect that Southside Bancshares will post 2.02 earnings per share for the current year.
A number of research analysts recently commented on SBSI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 price target on shares of Southside Bancshares in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Piper Jaffray Companies started coverage on shares of Southside Bancshares in a report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price target for the company. Finally, BidaskClub downgraded shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.
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In other Southside Bancshares news, COO Brian K. Mccabe sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the completion of the sale, the chief operating officer now owns 16,658 shares of the company’s stock, valued at $549,714. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.20% of the stock is owned by company insiders.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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