Southside Bancshares, Inc. (NYSE:SBSI) Receives Average Rating of “Hold” from Analysts

Shares of Southside Bancshares, Inc. (NYSE:SBSI) have earned an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of equities analysts have recently issued reports on the company. Benchmark started coverage on Southside Bancshares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Piper Sandler assumed coverage on Southside Bancshares in a report on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Weiss Ratings raised Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th.

Institutional Trading of Southside Bancshares

Several large investors have recently added to or reduced their stakes in the business. Bill Few Associates Inc. boosted its position in shares of Southside Bancshares by 11.5% in the second quarter. Bill Few Associates Inc. now owns 10,444 shares of the company’s stock worth $368,000 after purchasing an additional 1,074 shares during the period. GAMMA Investing LLC raised its position in shares of Southside Bancshares by 37.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $119,000 after purchasing an additional 916 shares during the period. Bank of America Corp DE lifted its stake in shares of Southside Bancshares by 6.2% during the 1st quarter. Bank of America Corp DE now owns 125,339 shares of the company’s stock valued at $3,897,000 after buying an additional 7,274 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Southside Bancshares by 224.9% during the 1st quarter. Empowered Funds LLC now owns 100,298 shares of the company’s stock valued at $3,118,000 after buying an additional 69,431 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Southside Bancshares by 75.6% in the 1st quarter. Quantinno Capital Management LP now owns 37,875 shares of the company’s stock worth $1,178,000 after buying an additional 16,306 shares during the period. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Down 0.5%

SBSI opened at $34.07 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $33.83 and a 200-day moving average price of $32.70. Southside Bancshares has a twelve month low of $26.32 and a twelve month high of $36.20. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 14.44 and a beta of 0.58.

Southside Bancshares (NYSE:SBSI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. The company had revenue of $70.28 million for the quarter, compared to the consensus estimate of $70.92 million. Equities research analysts forecast that Southside Bancshares will post 3.43 earnings per share for the current year.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, May 18th. Southside Bancshares’s dividend payout ratio is 61.02%.

About Southside Bancshares

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.