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

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.36 per share by the bank on Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, November 21st.

Southside Bancshares has raised its dividend payment 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 payout ratio of 50.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Southside Bancshares to earn $2.79 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 51.6%.

Southside Bancshares Price Performance

Shares of NASDAQ SBSI opened at $35.01 on Wednesday. Southside Bancshares has a 52 week low of $25.30 and a 52 week high of $38.00. The business’s 50 day moving average price is $33.71 and its 200 day moving average price is $30.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.06 billion, a P/E ratio of 12.71 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $113.87 million for the quarter, compared to analysts’ expectations of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same period last year, the business earned $0.60 EPS. On average, sell-side analysts expect that Southside Bancshares will post 2.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider T L. Arnold, Jr. sold 4,667 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. This trade represents a 22.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,187 shares of company stock worth $358,487. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Hovde Group upped their target price on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th.

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.