Southside Bancshares Inc reports results for the quarter ended in March - Earnings Summary

Southside Bancshares

25/04/2024 14:32

* Southside Bancshares Inc  SBSI.OQ  reported quarterly
adjusted
earnings of 71 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 83 cents.  The mean expectation of three analysts for the
quarter was for earnings of 68 cents per share. Wall Street
expected results to range from 67 cents to 69 cents per share.
    * Revenue fell 3.5% to $63.07 million from a year ago;
analysts
expected $67.73 million. 
    * Southside Bancshares Inc's reported EPS for the quarter
was 71
cents​.
    * The company reported quarterly net income of $21.51
million.
    * Southside Bancshares Inc shares had fallen by 2.9% this
quarter and lost 9.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Southside
Bancshares Inc is $35.00 
This summary was machine generated from LSEG data April 25 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.68           0.71           Beat
 Dec. 31 2023      0.67           0.57           Missed
 Sep. 30 2023      0.73           0.60           Missed
 Jun. 30 2023      0.69           0.81           Beat