Southside Bancshares (NASDAQ:PIPR) to Issue Quarterly Dividend of $0.38

Southside Bancshares (NASDAQ:PIPR) declared a quarterly dividend on Monday, February 3rd, Wall Street Journal reports. Stockholders of record on Monday, March 2nd will be given a dividend of 0.375 per share on Friday, March 13th. This represents a $1.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 28th.

Southside Bancshares has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings.

Southside Bancshares stock opened at $74.89 on Thursday. Southside Bancshares has a fifty-two week low of $67.23 and a fifty-two week high of $87.45.

Southside Bancshares (NASDAQ:PIPR) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $1.80 by $1.09. The company had revenue of $280.30 million for the quarter, compared to analyst estimates of $224.40 million.

PIPR has been the subject of several research reports. Zacks Investment Research upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, February 5th. Buckingham Research raised their price target on shares of Southside Bancshares from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd.

Southside Bancshares Company Profile

Piper Sandler Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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