Southside Bancshares, Inc. (NASDAQ:SBSI) Plans Quarterly Dividend of $0.36

Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors 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 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, August 22nd.

Southside Bancshares has raised its dividend payment by an average of 3.9% per year 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 $2.78 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 51.8%.

Southside Bancshares Stock Performance

Southside Bancshares stock traded down $0.20 during midday trading on Friday, reaching $31.51. The stock had a trading volume of 108,403 shares, compared to its average volume of 141,313. The firm’s 50-day moving average price is $28.87 and its 200 day moving average price is $28.63. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $36.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $954.28 million, a PE ratio of 11.71 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.64 by $0.17. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. The business had revenue of $115.74 million during the quarter, compared to the consensus estimate of $64.91 million. During the same quarter last year, the company earned $0.82 EPS. As a group, research analysts predict that Southside Bancshares will post 2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SBSI shares. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Hovde Group upped 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 report on Monday, July 29th.

Insider Activity

In other news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jared C. Green sold 864 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the sale, the insider now directly owns 4,358 shares in the company, valued at approximately $144,990.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julie Shamburger sold 5,360 shares of Southside Bancshares stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 $852,174.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,223 shares of company stock worth $342,994. 5.90% of the stock is currently 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.