Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) CAO April Pinkley sold 6,724 shares of the business's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $36.00, for a total transaction of $242,064.00. Following the completion of the transaction, the chief accounting officer owned 4,393 shares in the company, valued at $158,148. The trade was a 60.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Southside Bancshares Trading Down 0.9%
Shares of NYSE:SBSI traded down $0.31 during midday trading on Friday, hitting $34.05. 184,016 shares of the stock traded hands, compared to its average volume of 152,053. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.31. The business's 50 day moving average is $31.67 and its two-hundred day moving average is $32.46. The stock has a market capitalization of $1.01 billion, a PE ratio of 10.29 and a beta of 0.57. Southside Bancshares, Inc. has a one year low of $28.04 and a one year high of $36.35.
Southside Bancshares (NYSE:SBSI - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. Southside Bancshares had a return on equity of 11.58% and a net margin of 21.48%. The company had revenue of $76.14 million for the quarter, compared to analysts' expectations of $72.67 million. As a group, research analysts forecast that Southside Bancshares, Inc. will post 3.45 earnings per share for the current year.
Southside Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Wednesday, November 25th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.48 annualized dividend and a yield of 4.3%. Southside Bancshares's dividend payout ratio (DPR) is 44.71%.
Institutional Trading of Southside Bancshares
A number of hedge funds have recently made changes to their positions in SBSI. Fortitude Family Office LLC purchased a new position in Southside Bancshares in the third quarter worth about $30,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Southside Bancshares during the second quarter valued at approximately $62,000. Integrated Wealth Concepts LLC bought a new stake in shares of Southside Bancshares during the second quarter valued at approximately $77,000. Nisa Investment Advisors LLC increased its position in shares of Southside Bancshares by 14.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,723 shares of the company's stock valued at $82,000 after acquiring an additional 341 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Southside Bancshares by 55.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,004 shares of the company's stock worth $90,000 after acquiring an additional 1,071 shares during the last quarter. 55.70% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on SBSI shares. Weiss Ratings upgraded Southside Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 30th. Wall Street Zen upgraded Southside Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Keefe, Bruyette & Woods dropped their price target on Southside Bancshares from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Monday, August 3rd. Stephens set a $37.00 price target on shares of Southside Bancshares in a report on Monday, July 27th. Finally, Piper Sandler reduced their price objective on shares of Southside Bancshares from $37.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.75.
Check Out Our Latest Analysis on SBSI
Southside Bancshares Company Profile
(
Get Free Report)
Southside Bancshares, Inc is a Texas-based financial holding company and the parent company of Southside Bank. Founded in 1960 and headquartered in Tyler, Texas, the company provides banking and financial services to individuals, businesses, and institutions.
Southside Bank offers a range of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans, and other forms of business credit.
The bank also provides treasury management, online and mobile banking, wealth management, trust and fiduciary services, and other financial solutions.
Featured Articles
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].
