Southside Bancshares (NYSE:SBSI) CAO Sells $242,064.00 in Stock

Southside Bancshares, Inc. (NYSE:SBSI) CAO April Pinkley sold 6,724 shares of Southside Bancshares stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $36.00, for a total transaction of $242,064.00. Following the transaction, the chief accounting officer directly owned 4,393 shares of the company’s stock, valued at approximately $158,148. This trade represents a 60.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Southside Bancshares Trading Down 0.1%

NYSE:SBSI opened at $34.05 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 10.29 and a beta of 0.57. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.78 and a quick ratio of 0.78. Southside Bancshares, Inc. has a one year low of $28.04 and a one year high of $36.35. The company’s 50-day simple moving average is $31.67 and its 200 day simple moving average is $32.46.

Southside Bancshares (NYSE:SBSI) last announced its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. Southside Bancshares had a net margin of 21.48% and a return on equity of 11.58%. The business had revenue of $76.14 million during the quarter, compared to the consensus estimate of $72.67 million. As a group, analysts forecast that Southside Bancshares, Inc. will post 3.45 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Wednesday, November 25th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, November 25th. Southside Bancshares’s dividend payout ratio (DPR) is 44.71%.

Analysts Set New Price Targets

Several equities research analysts have commented on SBSI shares. Wall Street Zen raised Southside Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Stephens set a $37.00 target price on Southside Bancshares in a research note on Monday, July 27th. Keefe, Bruyette & Woods reduced their price target on Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Monday, August 3rd. Weiss Ratings raised Southside Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Finally, Piper Sandler lowered their price target on Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.75.

Institutional Investors Weigh In On Southside Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Southside Bancshares during the third quarter valued at $30,000. Public Employees Retirement System of Ohio purchased a new position in Southside Bancshares in the 2nd quarter worth about $62,000. Integrated Wealth Concepts LLC purchased a new position in Southside Bancshares in the 2nd quarter worth about $77,000. Nisa Investment Advisors LLC lifted its stake in Southside Bancshares by 14.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $82,000 after acquiring an additional 341 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Southside Bancshares by 55.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,004 shares of the company’s stock valued at $90,000 after acquiring an additional 1,071 shares during the period. Institutional investors own 55.70% of the company’s stock.

About Southside Bancshares

Southside Bancshares, Inc is a Texas-based financial holding company and the parent company of Southside Bank. Founded in 1960 and headquartered in Tyler, Texas, the company provides banking and financial services to individuals, businesses, and institutions.

Southside Bank offers a range of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans, and other forms of business credit.

The bank also provides treasury management, online and mobile banking, wealth management, trust and fiduciary services, and other financial solutions.