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 completion of the sale, the insider now directly owns 9,202 shares of the company’s stock, valued at approximately $331,272. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Southside Bancshares Price Performance

SBSI opened at $35.89 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $33.35 and its 200 day moving average price is $30.55. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $37.58. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.96 and a beta of 0.55.

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 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 analyst estimates of $68.25 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts expect that Southside Bancshares, Inc. will post 2.98 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend 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 have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Southside Bancshares by 73.6% in the 1st quarter. BNP Paribas Financial Markets now owns 19,533 shares of the bank’s stock worth $571,000 after purchasing an additional 8,280 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Southside Bancshares by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,150 shares of the bank’s stock worth $735,000 after buying an additional 369 shares in the last quarter. Empowered Funds LLC increased its position in Southside Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after acquiring an additional 4,900 shares during the period. ProShare Advisors LLC increased its position in Southside Bancshares by 0.9% in the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after acquiring an additional 2,456 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Southside Bancshares by 185.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,028 shares of the bank’s stock valued at $702,000 after acquiring an additional 15,625 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SBSI shares. Hovde Group boosted their price target on Southside Bancshares from $31.00 to $37.00 and gave the company 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 research note on Tuesday, November 5th.

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.