Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Sells $79,920.00 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) insider Suni M. Davis sold 2,220 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total value of $79,920.00. Following the sale, the insider now directly owns 9,202 shares of the company’s stock, valued at approximately $331,272. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Southside Bancshares Price Performance

SBSI stock opened at $35.89 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 12.96 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $37.58. The stock has a 50-day simple moving average of $33.35 and a 200-day simple moving average of $30.55.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The company had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same quarter in the prior year, the company earned $0.60 EPS. On average, equities analysts predict that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is 51.99%.

Hedge Funds Weigh In On Southside Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of Southside Bancshares by 54.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after acquiring an additional 387 shares in the last quarter. CWM LLC increased its holdings in Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after purchasing an additional 2,533 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Southside Bancshares by 57.0% in the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,195 shares in the last quarter. Point72 Asset Management L.P. boosted its stake 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 buying an additional 1,643 shares during the last quarter. Finally, Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares during the third quarter worth approximately $222,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBSI. Hovde Group boosted their target price on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Southside Bancshares Company Profile

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.