Southside Bancshares Inc Stock Price, News & Analysis

The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a quarterly cash dividend of $0.34 per common share. This dividend is set for payment on September 1, 2022, to stockholders on record as of August 18, 2022. As of June 30, 2022, Southside Bancshares reported approximately $7.61 billion in total assets and operates 56 branches across Texas. The company is recognized for providing a comprehensive range of financial services, including loans, deposit accounts, and wealth management.

Southside Bancshares reported a net income of $25.4 million for Q2 2022, marking a 19.2% increase from $21.3 million in Q2 2021. Earnings per share rose 21.5% to $0.79. Loan growth was strong, with a 4.6% increase from the previous quarter. The annualized return on average assets improved to 1.42%, and the net interest margin reached 3.30%. However, noninterest income decreased by 16.8% year-over-year to $9.1 million, primarily due to net losses on available-for-sale securities.

Southside Bancshares, Inc. (NASDAQ:SBSI) has been recognized as one of the 'Top 25 Banks' in America by Bank Director, based on its strong 2021 financial performance. The ranking analyzed 300 publicly traded banks using key metrics such as profitability, capital adequacy, and total shareholder return. Southside's commitment to excellence over its 60-year history has contributed to this achievement, demonstrating its focus on customers, communities, and shareholders.

Southside Bancshares, Inc. (NASDAQ: SBSI) will release its Q2 financial results on July 25, 2022, before market opening. A conference call led by CEO Lee R. Gibson and CFO Julie Shamburger will follow at 11:00 a.m. CDT to discuss the results and host a Q&A session for analysts. Southside Bancshares has approximately $7.12 billion in assets as of March 31, 2022, and operates 56 branches across Texas, providing various financial services to individuals and businesses.

The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a regular quarterly cash dividend of $0.34 per common share. The dividend will be paid on June 2, 2022, to shareholders of record as of May 19, 2022. Southside Bancshares, headquartered in Tyler, Texas, manages approximately $7.12 billion in assets and operates 56 branches across East Texas and major metropolitan areas, offering a wide range of financial products and services since 1960.

Southside Bancshares, Inc. (SBSI) reported a net income of $25.0 million for Q1 2022, a decrease of 26.7% from $34.1 million in Q1 2021. Earnings per diluted share were $0.77, down from $1.04 year-over-year. Despite these declines, the company achieved a linked quarter loan growth of 4.8% and maintained low nonperforming assets at 0.16% of total assets. Net interest income increased by 5.6% to $48.9 million, and deposits rose by 19.2% year-over-year to $6.07 billion.

Southside Bancshares, Inc. (NASDAQ: SBSI) will announce its first quarter 2022 financial results on April 26, 2022, before market opening. A conference call will follow at 11:00 a.m. CST with CEO Lee R. Gibson, CFO Julie Shamburger, and VP Lindsey Bailes. Participants can access the call by dialing 844-775-2540 or registering online. A recording will be available on the company’s website post-call. Southside Bancshares, headquartered in Tyler, Texas, holds approximately $7.26 billion in assets and operates 56 branches.

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a Stock Repurchase Plan allowing the company to buy back up to 1 million shares of its common stock. This initiative, authorized by the Board of Directors, aims to enhance shareholder value and demonstrates the company's confidence in its financial health. The repurchases can be executed through various methods, including open market purchases, and can be suspended or discontinued at any time. As of December 31, 2021, Southside Bancshares had approximately $7.26 billion in assets and operates 56 branches across Texas.

The Board of Directors of Southside Bancshares (NASDAQ:SBSI) has approved a 3.0% increase in the regular quarterly cash dividend, raising it from $0.01 to $0.34 per common share. This dividend is set for payment on March 3, 2022, to shareholders of record on February 17, 2022. CEO Lee R. Gibson emphasized the positive economic conditions and the company's strong balance sheet as reasons for the dividend increase. As of December 31, 2021, Southside Bancshares had approximately $7.26 billion in assets, operating 56 branches across Texas.