Southside Bancshares (NASDAQ:SBSI) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Southside Bancshares, Inc. (NASDAQ:SBSIGet Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.03 and traded as high as $32.39. Southside Bancshares shares last traded at $32.3380, with a volume of 161,896 shares.

Key Headlines Impacting Southside Bancshares

Here are the key news stories impacting Southside Bancshares this week:

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price target on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating on the stock in a research note on Monday, October 27th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.50.

View Our Latest Research Report on SBSI

Southside Bancshares Price Performance

The firm has a 50 day moving average price of $31.33 and a 200 day moving average price of $30.04. The stock has a market capitalization of $968.52 million, a PE ratio of 11.07 and a beta of 0.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th 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 Thursday, November 20th. Southside Bancshares’s dividend payout ratio (DPR) is 62.61%.

Insider Buying and Selling

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,807 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was acquired at an average cost of $30.68 per share, for a total transaction of $55,438.76. Following the purchase, the director directly owned 389,288 shares of the company’s stock, valued at $11,943,355.84. This trade represents a 0.47% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Southside Bancshares

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Southside Bancshares by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,031,944 shares of the bank’s stock valued at $61,751,000 after purchasing an additional 31,575 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Southside Bancshares by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,382,523 shares of the bank’s stock worth $39,056,000 after buying an additional 5,237 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Southside Bancshares by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 689,791 shares of the bank’s stock worth $20,301,000 after buying an additional 5,975 shares during the last quarter. American Century Companies Inc. raised its position in shares of Southside Bancshares by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 352,786 shares of the bank’s stock valued at $10,382,000 after buying an additional 45,598 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Southside Bancshares by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 291,402 shares of the bank’s stock valued at $8,576,000 after acquiring an additional 4,055 shares during the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Company Profile

(Get Free Report)

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.

Further Reading

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