Key Points
- Director Herbert Buie purchased 1,807 shares at an average price of $30.68 on Dec. 4 for a total of $55,438.76, increasing his holdings to 389,288 shares (a 0.47% rise), according to an SEC filing.
- Southside paid a quarterly dividend of $0.36 per share (annualized $1.44) for a yield of about 4.7%; the dividend was paid Dec. 4 with an ex‑dividend/record date of Nov. 20 and a payout ratio of 62.6%.
- The bank has a market capitalization near $920 million and a P/E of 10.5, with analysts averaging a Hold rating and a $33.50 price target while the 52‑week range is $25.85–$35.99.
Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) Director Herbert Buie bought 1,807 shares of the business's stock in a transaction dated Thursday, December 4th. The shares were acquired at an average cost of $30.68 per share, for a total transaction of $55,438.76. Following the purchase, the director owned 389,288 shares of the company's stock, valued at approximately $11,943,355.84. The trade was a 0.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Southside Bancshares Price Performance
Shares of SBSI stock opened at $30.59 on Friday. The stock has a 50 day moving average price of $28.51 and a 200 day moving average price of $29.30. Southside Bancshares, Inc. has a 52-week low of $25.85 and a 52-week high of $35.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $919.72 million, a P/E ratio of 10.51 and a beta of 0.65.
Southside Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Thursday, November 20th. Southside Bancshares's dividend payout ratio (DPR) is 62.61%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Southside Bancshares by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,382,523 shares of the bank's stock valued at $39,056,000 after acquiring an additional 5,237 shares during the period. Geode Capital Management LLC grew its stake in shares of Southside Bancshares by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 689,791 shares of the bank's stock worth $20,301,000 after purchasing an additional 5,975 shares during the period. American Century Companies Inc. increased its holdings in shares of Southside Bancshares by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 352,786 shares of the bank's stock valued at $10,382,000 after purchasing an additional 45,598 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Southside Bancshares by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 291,402 shares of the bank's stock valued at $8,576,000 after purchasing an additional 4,055 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Southside Bancshares by 16.9% in the 2nd quarter. Invesco Ltd. now owns 290,213 shares of the bank's stock valued at $8,541,000 after purchasing an additional 42,057 shares during the period. 55.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SBSI shares. Stephens restated an "equal weight" rating and issued a $36.00 price target on shares of Southside Bancshares in a report on Friday, September 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Southside Bancshares from $32.00 to $31.00 and set a "market perform" rating for the company in a research report on Monday, October 27th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $33.50.
Read Our Latest Stock Analysis on Southside Bancshares
About Southside Bancshares
(
Get Free Report)
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 deposits.
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