Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) insider Cindy Blackstone sold 2,005 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $39.44, for a total value of $79,077.20. Following the transaction, the insider now directly owns 2,021 shares of the company's stock, valued at $79,708.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Southside Bancshares Trading Up 1.2 %
Shares of SBSI stock opened at $39.89 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.64 and a quick ratio of 0.66. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 11.94 and a beta of 0.57. The stock has a 50 day simple moving average of $38.23 and a 200-day simple moving average of $39.81. Southside Bancshares, Inc. has a 1-year low of $35.44 and a 1-year high of $45.36.
Get Southside Bancshares alerts:Southside Bancshares (NASDAQ:SBSI – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Southside Bancshares had a return on equity of 13.17% and a net margin of 40.84%. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts expect that Southside Bancshares, Inc. will post 3.31 EPS for the current fiscal year.
Southside Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, August 17th. Southside Bancshares's dividend payout ratio is currently 40.72%.Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Southside Bancshares in the 4th quarter valued at $28,000. Nisa Investment Advisors LLC acquired a new stake in shares of Southside Bancshares in the 1st quarter worth $32,000. Gibson Wealth Advisors LLC acquired a new stake in shares of Southside Bancshares in the 4th quarter worth $45,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Southside Bancshares in the 4th quarter worth $95,000. Finally, First Dallas Securities Inc. acquired a new stake in shares of Southside Bancshares in the 4th quarter worth $209,000. 51.25% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SBSI has been the subject of several research analyst reports. Piper Sandler reduced their target price on Southside Bancshares to $41.00 in a research note on Monday, July 4th. Stephens upped their target price on Southside Bancshares to $43.00 in a research note on Tuesday, July 26th.
About Southside Bancshares
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Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposit.
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