Southside Bancshares, Inc. (NASDAQ:SBSI) CEO Sells $121,242.00 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) CEO Lee R. Gibson sold 3,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the transaction, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Southside Bancshares Stock Performance

SBSI traded down $1.24 during midday trading on Thursday, hitting $35.98. 63,743 shares of the company were exchanged, compared to its average volume of 116,091. The company’s 50 day simple moving average is $33.29 and its 200 day simple moving average is $30.45. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 13.44 and a beta of 0.55. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $37.58.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts predict that Southside Bancshares, Inc. will post 2.98 earnings per share for the current year.

Institutional Investors Weigh In On Southside Bancshares

A number of institutional investors have recently modified their holdings of SBSI. Nisa Investment Advisors LLC grew its position in shares of Southside Bancshares by 54.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after acquiring an additional 387 shares during the period. CWM LLC grew its position in shares of Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after acquiring an additional 2,533 shares during the period. EntryPoint Capital LLC grew its position in shares of Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock valued at $96,000 after acquiring an additional 1,195 shares during the period. Point72 Asset Management L.P. grew its position in shares of Southside Bancshares by 48.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock valued at $139,000 after acquiring an additional 1,643 shares during the period. Finally, Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares during the 3rd quarter valued at about $222,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SBSI. Hovde Group upped their target price on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday.

About Southside Bancshares

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.