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. Stockholders of record on Thursday, November 21st will be given a dividend of 0.36 per share by the bank on Friday, December 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, November 21st.

Southside Bancshares has raised its dividend by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 30 years. Southside Bancshares has a dividend payout ratio of 50.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.6 %

SBSI stock opened at $35.01 on Wednesday. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $38.00. The firm’s 50-day moving average is $33.71 and its 200 day moving average is $30.99. The company has a market capitalization of $1.06 billion, a PE ratio of 12.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Hovde Group raised their price target on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Insider Activity

In other Southside Bancshares news, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction 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 sale, the insider now owns 16,441 shares in the company, valued at $554,226.11. This represents a 22.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suni M. Davis sold 2,220 shares of Southside Bancshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total value of $79,920.00. Following the completion of the transaction, the insider now owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,187 shares of company stock worth $358,487. Corporate insiders own 6.10% 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 deposits.