Shares of Southside Bancshares Inc. (NASDAQ: SBSI) plummeted by 5.26% on Wednesday after the Texas-based bank reported weaker-than-expected financial results for the third quarter of 2024.
For the three months ended September 30th, Southside Bancshares posted earnings of $0.68 per diluted share, missing analysts' consensus estimate of $0.73 per share. The company's revenue came in at $63.6 million, falling short of the projected $68.4 million.
The disappointing results marked a decline from the same period a year earlier when the bank reported earnings of $0.60 per share on revenue of $64.1 million. Analysts had anticipated Southside Bancshares to show improved financial performance, but the company's Q3 2024 figures fell short of expectations.
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