Key Points
- Southside Bancshares COO John Mitchell Jr. Craddock sold 486 shares on June 9 at an average price of $33.38, trimming his stake by about 9.07% to 4,871 shares.
- The stock was up 1.7% and opened at $33.64, near its 52-week high of $34.53, with a market cap of about $1.0 billion.
- Southside Bancshares recently beat earnings expectations with Q1 EPS of $0.78 versus $0.76 expected, and it pays a quarterly dividend of $0.36, equal to a 4.3% annualized yield.
Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) COO John Mitchell Jr. Craddock sold 486 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $33.38, for a total value of $16,222.68. Following the transaction, the chief operating officer directly owned 4,871 shares of the company's stock, valued at approximately $162,593.98. The trade was a 9.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Southside Bancshares Stock Up 1.7%
Shares of NYSE SBSI opened at $33.64 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 14.25 and a beta of 0.58. Southside Bancshares, Inc. has a 12 month low of $26.32 and a 12 month high of $34.53. The stock has a 50-day moving average price of $32.64 and a two-hundred day moving average price of $31.86.
Southside Bancshares (NYSE:SBSI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $70.29 million during the quarter, compared to the consensus estimate of $70.92 million. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%. As a group, analysts forecast that Southside Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.
Southside Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.44 annualized dividend and a dividend yield of 4.3%. Southside Bancshares's dividend payout ratio is currently 61.02%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Weiss Ratings raised Southside Bancshares from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Piper Sandler assumed coverage on Southside Bancshares in a research note on Wednesday, April 15th. They issued a "neutral" rating and a $35.00 price objective for the company. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Southside Bancshares presently has a consensus rating of "Hold" and a consensus price target of $35.00.
Read Our Latest Stock Report on Southside Bancshares
Institutional Trading of Southside Bancshares
Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Southside Bancshares by 1,083.8% in the second quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company's stock valued at $28,000 after acquiring an additional 867 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Southside Bancshares in the fourth quarter valued at approximately $45,000. CIBC Private Wealth Group LLC bought a new stake in Southside Bancshares in the third quarter valued at approximately $45,000. GAMMA Investing LLC boosted its holdings in Southside Bancshares by 26.6% in the fourth quarter. GAMMA Investing LLC now owns 1,809 shares of the company's stock valued at $55,000 after acquiring an additional 380 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Southside Bancshares by 927.6% in the third quarter. Russell Investments Group Ltd. now owns 2,826 shares of the company's stock valued at $80,000 after acquiring an additional 2,551 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors.
About Southside Bancshares
(
Get Free Report)
Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company's offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.
In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
