Southside Bancshares, Inc. (NASDAQ:SBSI) – SunTrust Banks increased their Q1 2018 earnings per share (EPS) estimates for Southside Bancshares in a note issued to investors on Monday. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings per share of $0.56 for the quarter, up from their previous forecast of $0.52. SunTrust Banks also issued estimates for Southside Bancshares’ Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.36 EPS.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, October 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. The company had revenue of $44.37 million for the quarter, compared to the consensus estimate of $51.00 million.
Southside Bancshares (NASDAQ SBSI) traded up $0.26 during trading hours on Wednesday, hitting $35.05. The stock had a trading volume of 157,700 shares, compared to its average volume of 120,271. Southside Bancshares has a fifty-two week low of $31.20 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $1,030.00, a PE ratio of 18.35 and a beta of 0.76.
In other news, Director Tony K. Morgan purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were acquired at an average price of $35.45 per share, for a total transaction of $35,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Bosworth sold 4,512 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The disclosure for this sale can be found here. 17.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in SBSI. Russell Investments Group Ltd. bought a new position in shares of Southside Bancshares in the second quarter valued at approximately $318,000. Schwab Charles Investment Management Inc. increased its position in shares of Southside Bancshares by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock valued at $4,251,000 after acquiring an additional 4,254 shares during the last quarter. Rhumbline Advisers increased its position in shares of Southside Bancshares by 3.2% during the second quarter. Rhumbline Advisers now owns 54,469 shares of the bank’s stock valued at $1,903,000 after acquiring an additional 1,675 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Southside Bancshares by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock valued at $19,846,000 after acquiring an additional 23,654 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Southside Bancshares by 11.5% during the second quarter. Legal & General Group Plc now owns 48,993 shares of the bank’s stock valued at $1,712,000 after acquiring an additional 5,043 shares during the last quarter. Institutional investors and hedge funds own 43.21% of the company’s stock.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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