Southside Bancshares, Inc. (SBSI) to Issue Quarterly Dividend of $0.36 on June 1st

Southside Bancshares, Inc. (NYSE:SBSI) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Monday, May 18th will be paid a dividend of 0.36 per share on Monday, June 1st. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, May 18th.

Southside Bancshares has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 30 years.

Southside Bancshares Price Performance

Shares of NYSE:SBSI opened at $31.88 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74. Southside Bancshares has a 1-year low of $26.32 and a 1-year high of $34.53. The company has a market capitalization of $948.31 million, a P/E ratio of 13.51 and a beta of 0.59. The firm’s 50 day simple moving average is $31.82 and its two-hundred day simple moving average is $31.33.

Southside Bancshares (NYSE:SBSI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. The business had revenue of $70.29 million for the quarter, compared to the consensus estimate of $70.92 million. Research analysts expect that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SBSI has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Southside Bancshares from $31.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Piper Sandler assumed coverage on shares of Southside Bancshares in a report on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 target price on the stock. Wall Street Zen raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Hovde Group boosted their target price on shares of Southside Bancshares from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Southside Bancshares currently has an average rating of “Hold” and an average price target of $35.00.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.