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Southside Bancshares (SBSI)
NYSE:SBSI
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.72Last Year’s EPS
0.79Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 26, 2018
|% Change Since: -3.88%
|Next Earnings Date:Jul 27, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. While the company reported solid asset quality metrics and improvements in net interest margin and wealth management, there were significant challenges including a decrease in net income, reduced loan growth targets, and losses in the securities portfolio.Company Guidance
During Southside Bancshares' third quarter 2024 earnings call, the company provided comprehensive guidance on its financial and strategic initiatives. The bank reported a net income of $20.5 million, with earnings per share of $0.68 and a return on average tangible common equity of 13.9%. The net interest margin increased by 8 basis points to 2.95%, despite a slight decline in loans to $4.58 billion due to significant payoffs. Despite this, the bank adjusted its target loan growth for 2024 from 5% to 3% due to anticipated further payoffs. Nonperforming assets remained low at 0.09% of total assets, and the allowance for credit losses increased to $47.6 million, indicating strong asset quality. The bank also sold $28 million of lower-yielding municipal securities, incurring a $1.9 million loss, and reinvested in higher-yielding mortgage-backed securities. Additionally, the bank is progressing with its C&I lending expansion in metropolitan markets, hiring more relationship managers, and expects results in 2025. The effective tax rate slightly increased to 17.6%, with a projected annual rate of the same for 2024. The company anticipates noninterest expenses to reach $37 million in the fourth quarter, reflecting ongoing investments and operational adjustments.Strong Asset Quality Metrics
The company reported strong asset quality metrics with nonperforming assets of $7.7 million or 0.09% of total assets at September 30, maintaining low levels from the previous quarter.
Increase in Net Interest Margin
Net interest margin increased by 8 basis points to 2.95% from 2.87% in the previous quarter. Net interest income also increased by $1.9 million or 3.5% compared to the linked quarter.
Positive Developments in Wealth Management
Investments in the wealth management and trust department are yielding positive results, with steady growth in new clients and quarterly fee income.
Liquidity and Capital Ratios
Capital ratios remained strong, with all capital ratios well above the required thresholds. Liquidity resources remained solid with $2.23 billion in liquidity lines available as of September 30.
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SBSI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SBSI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 29, 2025 | $32.69 | $31.43 | -3.85% |
| Oct 24, 2024 | $33.22 | $32.41 | -2.44% |
| Jul 25, 2024 | $30.95 | $33.68 | +8.82% |
| Apr 25, 2024 | $27.42 | $26.73 | -2.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Southside Bancshares (SBSI) report earnings?
Southside Bancshares (SBSI) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Southside Bancshares (SBSI) earnings time?
Southside Bancshares (SBSI) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBSI EPS forecast?
SBSI EPS forecast for the fiscal quarter 2024 (Q4) is 0.72.
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