Southside Bancshares (NYSE:SBSI) COO Sells $13,284.15 in Stock

Southside Bancshares, Inc. (NYSE:SBSI) COO John Craddock, Jr. sold 415 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $32.01, for a total value of $13,284.15. Following the completion of the transaction, the chief operating officer owned 4,378 shares of the company’s stock, valued at $140,139.78. This represents a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Southside Bancshares Trading Up 0.2%

Shares of NYSE:SBSI opened at $32.13 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.74 and a quick ratio of 0.74. Southside Bancshares, Inc. has a 1 year low of $26.32 and a 1 year high of $36.20. The company has a market cap of $957.83 million, a P/E ratio of 12.65 and a beta of 0.58. The stock’s fifty day moving average price is $32.98 and its 200-day moving average price is $32.67.

Southside Bancshares (NYSE:SBSI) last released its quarterly earnings data on Friday, July 24th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. Southside Bancshares had a return on equity of 11.16% and a net margin of 16.70%.The company had revenue of $71.34 million during the quarter, compared to the consensus estimate of $75.00 million. Sell-side analysts expect that Southside Bancshares, Inc. will post 3.24 earnings per share for the current year.

Southside Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, August 20th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.36. Southside Bancshares’s payout ratio is 58.27%.

Analyst Upgrades and Downgrades

SBSI has been the topic of a number of research analyst reports. Benchmark assumed coverage on shares of Southside Bancshares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods cut their target price on shares of Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Southside Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Stephens set a $37.00 price target on Southside Bancshares in a report on Monday, July 27th. Finally, Piper Sandler dropped their price target on Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southside Bancshares currently has a consensus rating of “Hold” and an average target price of $34.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Southside Bancshares by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the company’s stock worth $494,000 after purchasing an additional 701 shares in the last quarter. Empowered Funds LLC lifted its position in Southside Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,211 shares of the company’s stock valued at $2,381,000 after purchasing an additional 4,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Southside Bancshares by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the company’s stock valued at $2,038,000 after purchasing an additional 6,459 shares in the last quarter. Jane Street Group LLC bought a new stake in Southside Bancshares during the first quarter valued at about $1,520,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Southside Bancshares by 30.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 142,955 shares of the company’s stock worth $4,207,000 after buying an additional 33,443 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

About Southside Bancshares

Southside Bancshares, Inc is a Texas-based bank holding company headquartered in Tyler, Texas. Its principal subsidiary, Southside Bank, provides banking and financial services to individuals, businesses, municipalities and other organizations.

Southside Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, along with commercial, real estate, residential mortgage and consumer lending. The bank also provides treasury management, online and mobile banking, wealth management, trust and investment services, and other financial solutions.

Founded in 1960, Southside Bank serves communities primarily across East, North and Central Texas through banking locations and digital channels.