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Southside Bancshares (SBSI)
NYSE:SBSI
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 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 29, 2025
|% Change Since: -3.88%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with significant growth in net income, loans, and deposits, and low nonperforming assets. However, challenges included a decrease in net interest margin, increased unrealized losses in the securities portfolio, and rising noninterest expenses.Company Guidance
During the Southside Bancshares fourth quarter and year-end 2024 earnings call, several key financial metrics and future guidance were highlighted. The company reported an increase in net income to $88.5 million, up by $1.8 million or 2.1% from 2023, with earnings per diluted share rising by $0.09 to $2.91. The fourth-quarter net income reached $21.8 million, marking a linked-quarter increase of $1.3 million or 6.1%, with earnings per share rising by $0.03 to $0.71. Loans grew by $83.5 million or 1.8% compared to the previous quarter, driven by a rise in commercial real estate loans. The net interest margin decreased by 12 basis points to 2.83% due to prepayments on premium mortgage-backed securities and a decline in average loan balances. However, the company anticipates positive net interest margin trends in 2025 due to restructuring of the mortgage-backed securities portfolio and expected slower Fed rate changes. Loan quality metrics remained strong, with nonperforming assets decreasing to 0.04% of total assets. Southside Bancshares also budgeted a mid-single-digit loan growth and a 5.7% increase in noninterest expense for 2025, with anticipated revenue growth in wealth management and trust areas projected at 16%.Increase in Net Income and Earnings Per Share
Net income increased by $1.8 million to $88.5 million, and earnings per diluted common share increased by $0.09 to $2.91 compared to 2023.
Positive Loan Growth
Loans increased by $83.5 million or 7.3% annualized during the fourth quarter, with a significant increase in commercial real estate loans.
Strong Deposit Growth
Deposits increased by $218.5 million or 3.4% on a linked-quarter basis, driven by public fund deposits and customer deposits.
Low Nonperforming Assets
Nonperforming assets decreased by $4.1 million or 53.1% on a linked-quarter basis, representing only 0.04% of total assets.
Wealth Management and Trust Growth
Wealth management and trust areas are experiencing growth, with anticipated revenue increases of at least 16% in 2025.
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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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