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 firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total transaction 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 $2,104,173.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Southside Bancshares Trading Down 3.3 %

NASDAQ SBSI traded down $1.24 on Thursday, reaching $35.98. The stock had a trading volume of 63,743 shares, compared to its average volume of 116,091. 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 quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $37.58. The stock has a fifty day moving average price of $33.29 and a two-hundred day moving average price of $30.45.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data 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). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The company had revenue of $113.87 million for the quarter, compared to analysts’ expectations of $68.25 million. During the same period in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBSI. StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. 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.

Institutional Trading of Southside Bancshares

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Southside Bancshares by 54.4% during 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 during the period. CWM LLC increased its position in shares of Southside Bancshares by 447.5% during the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after acquiring an additional 2,533 shares during the period. EntryPoint Capital LLC increased its position in shares of Southside Bancshares by 57.0% during the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after acquiring an additional 1,195 shares during the period. Point72 Asset Management L.P. increased its position in shares of Southside Bancshares by 48.3% during the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after acquiring an additional 1,643 shares during the period. Finally, Bill Few Associates Inc. acquired a new position in shares of Southside Bancshares during the third quarter worth $222,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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.