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

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders 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 dividend yield of 4.01%. The ex-dividend date is Thursday, November 21st.

Southside Bancshares has increased its dividend by an average of 3.9% annually over the last three years and has raised its dividend every year for the last 30 years. Southside Bancshares has a payout ratio of 50.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.4 %

SBSI opened at $35.89 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of 12.96 and a beta of 0.55. Southside Bancshares has a one year low of $25.30 and a one year high of $37.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50 day moving average price is $33.35 and its 200 day moving average price is $30.54.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same period last year, the company earned $0.60 EPS. As a group, equities research analysts expect that Southside Bancshares will post 2.98 EPS for the current year.

Insider Transactions at Southside Bancshares

In related news, CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,104,173.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the transaction, the chief executive officer now owns 57,272 shares in the company, valued at approximately $2,104,173.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider T L. Arnold, Jr. sold 4,667 shares of Southside Bancshares stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the transaction, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,187 shares of company stock worth $358,487 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBSI shares. StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. 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 report on Monday, July 29th.

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.