Southside Bancshares, Inc. (NYSE:SBSI) Given Consensus Rating of “Hold” by Analysts

Southside Bancshares, Inc. (NYSE:SBSI) has earned a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $35.00.

Several research firms have recently commented on SBSI. Piper Sandler began coverage on Southside Bancshares in a research note on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 price objective on the stock. Weiss Ratings raised Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th.

Southside Bancshares Trading Down 3.0%

Southside Bancshares stock opened at $31.79 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74. Southside Bancshares has a one year low of $26.32 and a one year high of $34.53. The stock has a market capitalization of $945.60 million, a PE ratio of 13.47 and a beta of 0.58. The business’s fifty day moving average is $32.45 and its 200 day moving average is $31.73.

Southside Bancshares (NYSE:SBSI) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%.The company had revenue of $70.29 million for the quarter, compared to analysts’ expectations of $70.92 million. On average, sell-side analysts predict that Southside Bancshares will post 3.43 EPS for the current year.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, May 18th. Southside Bancshares’s dividend payout ratio (DPR) is 61.02%.

Institutional Trading of Southside Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBSI. State of New Jersey Common Pension Fund D raised its position in Southside Bancshares by 37.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 92,388 shares of the company’s stock valued at $2,610,000 after purchasing an additional 25,409 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Southside Bancshares during the 4th quarter valued at $1,260,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Southside Bancshares during the 4th quarter valued at $465,000. Vanguard Group Inc. raised its position in Southside Bancshares by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,031,944 shares of the company’s stock valued at $61,751,000 after purchasing an additional 31,575 shares in the last quarter. Finally, Lion Street Advisors LLC raised its position in Southside Bancshares by 4.3% during the 3rd quarter. Lion Street Advisors LLC now owns 10,276 shares of the company’s stock valued at $290,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.