Brokerages Expect Southside Bancshares, Inc. (SBSI) Will Post Quarterly Sales of $54.30 Million
Equities analysts expect that Southside Bancshares, Inc. (NASDAQ:SBSI) will announce $54.30 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Southside Bancshares’ earnings, with the highest sales estimate coming in at $54.60 million and the lowest estimate coming in at $54.00 million. Southside Bancshares posted sales of $53.74 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, April 26th.
According to Zacks, 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 fiscal year, analysts anticipate 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 firms that cover Southside Bancshares.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, February 1st. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.08). The business had revenue of $52.54 million for the quarter, compared to the consensus estimate of $55.50 million. Southside Bancshares had a net margin of 27.47% and a return on equity of 9.94%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Southside Bancshares by 2.7% during the fourth quarter. BlackRock Inc. now owns 4,878,860 shares of the bank’s stock valued at $154,903,000 after purchasing an additional 130,535 shares during the period. Vanguard Group Inc lifted its stake in Southside Bancshares by 3.2% in the third quarter. Vanguard Group Inc now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after acquiring an additional 54,827 shares during the period. Vanguard Group Inc. lifted its stake in Southside Bancshares by 3.2% in the third quarter. Vanguard Group Inc. now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after acquiring an additional 54,827 shares during the period. Dimensional Fund Advisors LP lifted its stake in Southside Bancshares by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,631,651 shares of the bank’s stock worth $51,805,000 after acquiring an additional 67,337 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in Southside Bancshares by 20.0% in the fourth quarter. Handelsbanken Fonder AB now owns 719,787 shares of the bank’s stock worth $22,853,000 after acquiring an additional 119,787 shares during the period. 52.84% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:SBSI traded down $0.42 during trading on Wednesday, reaching $33.86. 61,280 shares of the company traded hands, compared to its average volume of 130,313. The firm has a market cap of $1.14 billion, a PE ratio of 16.05 and a beta of 0.77. Southside Bancshares has a 52-week low of $29.28 and a 52-week high of $37.32. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.76 and a current ratio of 0.76.
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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