ValuEngine upgraded shares of Southside Bancshares (NASDAQ:SBSI) from a hold rating to a buy rating in a report published on Wednesday.
Several other analysts also recently commented on SBSI. BidaskClub downgraded shares of Southside Bancshares from a hold rating to a sell rating in a research report on Wednesday, February 28th. Zacks Investment Research upgraded shares of Southside Bancshares from a strong sell rating to a hold rating and set a $38.00 price objective for the company in a research report on Saturday, January 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Southside Bancshares currently has a consensus rating of Hold and an average price target of $37.33.
Southside Bancshares (NASDAQ SBSI) traded up $0.62 during mid-day trading on Wednesday, reaching $35.78. 196,186 shares of the company traded hands, compared to its average volume of 210,933. Southside Bancshares has a 1 year low of $30.44 and a 1 year high of $37.57. The stock has a market cap of $1,253.30, a P/E ratio of 18.86 and a beta of 0.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.77 and a current ratio of 0.77.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.12 dividend on an annualized basis and a yield of 3.13%. Southside Bancshares’s payout ratio is currently 61.63%.
In other news, CFO Julie Shamburger acquired 3,250 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $34.88 per share, for a total transaction of $113,360.00. Following the transaction, the chief financial officer now owns 14,164 shares in the company, valued at $494,040.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $35.19, for a total transaction of $26,392.50. Following the transaction, the executive vice president now owns 3,563 shares of the company’s stock, valued at approximately $125,381.97. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Southside Bancshares by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,374,007 shares of the bank’s stock worth $49,958,000 after buying an additional 75,241 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Southside Bancshares by 3.7% during the 4th quarter. Renaissance Technologies LLC now owns 870,410 shares of the bank’s stock worth $29,315,000 after purchasing an additional 31,200 shares during the period. American Century Companies Inc. grew its stake in shares of Southside Bancshares by 10.8% during the 4th quarter. American Century Companies Inc. now owns 508,586 shares of the bank’s stock worth $17,129,000 after purchasing an additional 49,670 shares during the period. Geode Capital Management LLC grew its stake in shares of Southside Bancshares by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 255,372 shares of the bank’s stock worth $8,600,000 after purchasing an additional 4,454 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Southside Bancshares by 3.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 164,959 shares of the bank’s stock worth $5,945,000 after purchasing an additional 5,795 shares during the period. Institutional investors own 43.57% of the company’s stock.
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About Southside Bancshares
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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