Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, November 15th.
Southside Bancshares has increased its dividend by an average of 5.8% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Southside Bancshares has a dividend payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southside Bancshares to earn $2.32 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 48.3%.
Southside Bancshares (SBSI) opened at $35.50 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $1,060.49, a price-to-earnings ratio of 18.90 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 Thomson Reuters’ 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 firm had revenue of $44.37 million during the quarter, compared to the consensus estimate of $51.00 million. equities analysts predict that Southside Bancshares will post 2.1 earnings per share for the current year.
Several research analysts have commented on SBSI shares. BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 price objective on shares of Southside Bancshares in a report on Tuesday, August 29th. Finally, Piper Jaffray Companies initiated coverage on shares of Southside Bancshares in a report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price objective for the company.
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In other news, insider Tim Carter sold 7,000 shares of Southside Bancshares stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.95, for a total transaction of $237,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian K. Mccabe sold 1,500 shares of Southside Bancshares stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $33.00, for a total transaction of $49,500.00. Following the sale, the chief operating officer now directly owns 16,658 shares of the company’s stock, valued at $549,714. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
About Southside Bancshares
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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