Southside Bancshares, Inc. (NASDAQ:SBSI) – Equities research analysts at SunTrust Banks lowered their Q1 2020 earnings estimates for Southside Bancshares in a report issued on Monday, November 4th. SunTrust Banks analyst M. Young now expects that the bank will post earnings per share of $0.54 for the quarter, down from their previous estimate of $0.55. SunTrust Banks also issued estimates for Southside Bancshares’ Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.58 EPS, Q4 2020 earnings at $0.58 EPS and FY2020 earnings at $2.25 EPS.
SBSI has been the subject of several other reports. BidaskClub raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. ValuEngine raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd.
SBSI opened at $34.84 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day simple moving average of $34.45 and a 200-day simple moving average of $33.66. The stock has a market capitalization of $1.18 billion, a P/E ratio of 16.51 and a beta of 0.70. Southside Bancshares has a 12 month low of $29.71 and a 12 month high of $35.97.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, October 25th. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $55.29 million during the quarter, compared to analyst estimates of $56.95 million. Southside Bancshares had a net margin of 26.61% and a return on equity of 9.79%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share.
Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC raised its holdings in Southside Bancshares by 477.5% during the second quarter. Advisory Services Network LLC now owns 1,155 shares of the bank’s stock worth $37,000 after purchasing an additional 955 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Southside Bancshares during the second quarter worth $58,000. US Bancorp DE raised its holdings in Southside Bancshares by 9.6% during the second quarter. US Bancorp DE now owns 4,288 shares of the bank’s stock worth $139,000 after purchasing an additional 375 shares during the last quarter. Bank of Montreal Can raised its holdings in Southside Bancshares by 166.3% during the second quarter. Bank of Montreal Can now owns 4,397 shares of the bank’s stock worth $143,000 after purchasing an additional 2,746 shares during the last quarter. Finally, Jefferies Group LLC acquired a new position in Southside Bancshares during the second quarter worth $221,000. 52.82% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John F. Sammons, Jr. acquired 1,500 shares of Southside Bancshares stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $33.18 per share, with a total value of $49,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% 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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