Brokerages predict that Southside Bancshares, Inc. (NASDAQ:SBSI) will announce $54.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Southside Bancshares’ earnings, with the lowest sales estimate coming in at $54.00 million and the highest estimate coming in at $54.60 million. Southside Bancshares reported sales of $53.74 million during the same quarter last year, which indicates a positive year over year growth rate of 1%. The firm is expected to report its next earnings report before the market opens on Friday, April 26th.
On average, analysts expect that Southside Bancshares will report full-year sales of $224.25 million for the current fiscal year, with estimates ranging from $222.00 million to $226.50 million. For the next year, analysts expect that the business will report sales of $235.35 million, with estimates ranging from $228.10 million to $242.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, February 1st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.08). Southside Bancshares had a return on equity of 9.94% and a net margin of 27.47%. The firm had revenue of $52.54 million during the quarter, compared to the consensus estimate of $55.50 million. During the same period last year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year.
Several research analysts recently commented on the company. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd.
A number of large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its holdings in Southside Bancshares by 3.8% in the fourth quarter. State of Alaska Department of Revenue now owns 11,083 shares of the bank’s stock valued at $351,000 after purchasing an additional 404 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Southside Bancshares by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,962 shares of the bank’s stock valued at $729,000 after purchasing an additional 505 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Southside Bancshares by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 21,628 shares of the bank’s stock valued at $687,000 after purchasing an additional 875 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Southside Bancshares by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Southside Bancshares by 3.5% in the third quarter. Teachers Advisors LLC now owns 61,796 shares of the bank’s stock valued at $2,151,000 after purchasing an additional 2,061 shares during the last quarter. 52.84% of the stock is currently owned by institutional investors.
SBSI traded down $0.51 on Wednesday, hitting $33.35. The company had a trading volume of 95,300 shares, compared to its average volume of 129,853. The firm has a market cap of $1.14 billion, a P/E ratio of 15.87 and a beta of 0.77. Southside Bancshares has a 12-month low of $29.28 and a 12-month high of $37.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.20.
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 deposit.
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