Southside Bancshares, Inc. (SBSI) to Issue Quarterly Dividend of $0.36 on September 5th

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Thursday, August 22nd will be given a dividend of 0.36 per share by the bank on Thursday, September 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Thursday, August 22nd.

Southside Bancshares has increased its dividend by an average of 3.9% annually over the last three years and has increased its dividend every year for the last 30 years. Southside Bancshares has a dividend payout ratio of 48.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Southside Bancshares to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 48.6%.

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $32.73 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The firm has a market cap of $991.23 million, a P/E ratio of 12.17 and a beta of 0.55. Southside Bancshares has a 1-year low of $25.30 and a 1-year high of $36.10. The firm has a 50-day moving average of $29.54 and a 200-day moving average of $28.60.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. The business had revenue of $115.74 million for the quarter, compared to the consensus estimate of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the previous year, the firm earned $0.82 EPS. Sell-side analysts expect that Southside Bancshares will post 2.96 EPS for the current year.

Wall Street Analyst Weigh In

SBSI has been the topic of a number of research reports. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group boosted their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insider Buying and Selling at Southside Bancshares

In other news, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the sale, the chief financial officer now owns 24,327 shares in the company, valued at $852,174.81. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the completion of the sale, the insider now owns 16,441 shares of the company’s stock, valued at $520,028.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now directly owns 24,327 shares in the company, valued at approximately $852,174.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,223 shares of company stock worth $342,994. 5.90% of the stock is owned by insiders.

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 deposits.