Southside Bancshares, Inc. (NYSE:SBSI – Get Free Report) COO John Mitchell Jr. Craddock sold 486 shares of Southside Bancshares stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $33.38, for a total transaction of $16,222.68. Following the transaction, the chief operating officer directly owned 4,871 shares of the company’s stock, valued at approximately $162,593.98. This trade represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Southside Bancshares Trading Up 1.7%
Shares of Southside Bancshares stock opened at $33.64 on Wednesday. The firm has a 50-day moving average of $32.64 and a 200-day moving average of $31.86. The stock has a market cap of $1.00 billion, a PE ratio of 14.25 and a beta of 0.58. Southside Bancshares, Inc. has a 52-week low of $26.32 and a 52-week high of $34.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74.
Southside Bancshares (NYSE:SBSI – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $70.29 million during the quarter, compared to analysts’ expectations of $70.92 million. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 3.43 EPS for the current year.
Southside Bancshares Announces Dividend
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SBSI. Weiss Ratings raised shares of Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Piper Sandler began coverage on shares of Southside Bancshares in a research report on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 target price for the company. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.00.
View Our Latest Report on Southside Bancshares
Institutional Investors Weigh In On Southside Bancshares
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Southside Bancshares by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,031,944 shares of the company’s stock worth $61,751,000 after purchasing an additional 31,575 shares during the period. Dimensional Fund Advisors LP raised its stake in Southside Bancshares by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,384,745 shares of the company’s stock worth $43,051,000 after acquiring an additional 7,496 shares in the last quarter. State Street Corp raised its stake in Southside Bancshares by 0.6% during the fourth quarter. State Street Corp now owns 1,308,609 shares of the company’s stock worth $39,769,000 after acquiring an additional 7,706 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Southside Bancshares by 10.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 405,877 shares of the company’s stock worth $12,335,000 after acquiring an additional 37,253 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Southside Bancshares by 11.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 351,713 shares of the company’s stock worth $10,689,000 after acquiring an additional 36,675 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.
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.
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