Southside Bancshares, Inc. (NYSE:SBSI) Given Consensus Rating of “Hold” by Brokerages

Shares of Southside Bancshares, Inc. (NYSE:SBSIGet Free Report) have been given a consensus recommendation of “Hold” by the five research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $35.00.

SBSI has been the topic of a number of research reports. Piper Sandler began coverage on Southside Bancshares in a report on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 price target on the stock. Weiss Ratings raised Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th.

Read Our Latest Research Report on SBSI

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $34.03 on Thursday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 14.42 and a beta of 0.58. The stock’s 50-day moving average is $32.71 and its 200-day moving average is $31.90. Southside Bancshares has a one year low of $26.32 and a one year high of $34.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74.

Southside Bancshares (NYSE:SBSIGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $70.29 million for the quarter, compared to analyst estimates of $70.92 million. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%. Equities analysts predict that Southside Bancshares will post 3.43 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.2%. Southside Bancshares’s payout ratio is currently 61.02%.

Institutional Trading of Southside Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of SBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Southside Bancshares by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the company’s stock valued at $494,000 after acquiring an additional 701 shares during the last quarter. Empowered Funds LLC increased its position in shares of Southside Bancshares by 5.4% in the first quarter. Empowered Funds LLC now owns 82,211 shares of the company’s stock valued at $2,381,000 after acquiring an additional 4,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Southside Bancshares by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the company’s stock worth $2,038,000 after buying an additional 6,459 shares during the last quarter. Jane Street Group LLC acquired a new position in Southside Bancshares during the first quarter worth approximately $1,520,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Southside Bancshares by 30.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 142,955 shares of the company’s stock worth $4,207,000 after buying an additional 33,443 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

About Southside Bancshares

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Southside Bancshares (NYSE:SBSI)

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