Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $35.74 and last traded at $36.26, with a volume of 237452 shares traded. The stock had previously closed at $35.80.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on SBSI shares. Stephens increased their price target on Southside Bancshares to $43.00 in a report on Tuesday, July 26th. Piper Sandler cut their price target on Southside Bancshares to $41.00 in a report on Monday, July 4th.
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The business has a fifty day moving average of $38.70 and a 200-day moving average of $38.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.72 and a beta of 0.57.
Southside Bancshares (NASDAQ:SBSI – Get Rating) last issued its earnings results on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.01). Southside Bancshares had a return on equity of 13.17% and a net margin of 40.84%. The firm had revenue of $63.93 million during the quarter, compared to the consensus estimate of $64.59 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. Analysts anticipate that Southside Bancshares, Inc. will post 3.45 earnings per share for the current fiscal year.Southside Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Wednesday, August 17th. Southside Bancshares's dividend payout ratio is currently 40.72%.
Insider Buying and Selling
In related news, insider Cindy Blackstone sold 2,005 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,021 shares of the company's stock, valued at approximately $79,708.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Southside Bancshares
A number of institutional investors and hedge funds have recently bought and sold shares of SBSI. Teacher Retirement System of Texas purchased a new stake in Southside Bancshares in the 4th quarter valued at $251,000. Citigroup Inc. raised its position in Southside Bancshares by 39.1% in the 4th quarter. Citigroup Inc. now owns 25,372 shares of the bank's stock valued at $1,061,000 after buying an additional 7,138 shares during the last quarter. Bank of Montreal Can raised its position in Southside Bancshares by 312.8% in the 4th quarter. Bank of Montreal Can now owns 42,570 shares of the bank's stock valued at $1,782,000 after buying an additional 32,258 shares during the last quarter. Barclays PLC raised its position in Southside Bancshares by 79.8% in the 4th quarter. Barclays PLC now owns 74,071 shares of the bank's stock valued at $3,097,000 after buying an additional 32,876 shares during the last quarter. Finally, Gibson Wealth Advisors LLC purchased a new stake in Southside Bancshares in the 4th quarter valued at $45,000. 52.60% of the stock is owned by hedge funds and other institutional investors.
Southside Bancshares Company Profile
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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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