Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.73 and traded as high as $41.41. Southside Bancshares shares last traded at $41.36, with a volume of 48,458 shares.
Analyst Upgrades and Downgrades
SBSI has been the topic of several analyst reports. Piper Sandler reduced their price objective on shares of Southside Bancshares to $41.00 in a research note on Monday, July 4th. Stephens boosted their price objective on shares of Southside Bancshares to $43.00 in a research note on Tuesday, July 26th.
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The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.33 billion, a P/E ratio of 12.38 and a beta of 0.57. The stock's 50-day simple moving average is $38.24 and its 200 day simple moving average is $39.73.
Southside Bancshares (NASDAQ:SBSI – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The bank reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same quarter in the previous year, the company earned $0.65 EPS. As a group, research analysts forecast that Southside Bancshares, Inc. will post 3.31 EPS for the current fiscal year.Southside Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.36 dividend on an annualized basis and a yield of 3.29%. Southside Bancshares's dividend payout ratio (DPR) is currently 40.72%.
Insider Activity
In other news, insider Cindy Blackstone sold 2,005 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $39.44, for a total transaction of $79,077.20. Following the transaction, the insider now owns 2,021 shares in the company, valued at $79,708.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.70% of the company's stock.
Institutional Investors Weigh In On Southside Bancshares
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in Southside Bancshares in the 4th quarter worth approximately $28,000. Nisa Investment Advisors LLC purchased a new stake in shares of Southside Bancshares during the 1st quarter valued at $32,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Southside Bancshares during the 4th quarter valued at $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Southside Bancshares during the 2nd quarter valued at $100,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Southside Bancshares during the 2nd quarter valued at $105,000. Institutional investors and hedge funds own 51.25% of the company's stock.
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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