Southside Bancshares, Inc. (NYSE:SBSI – Get Free Report) COO John Craddock, Jr. sold 415 shares of Southside Bancshares stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $32.01, for a total value of $13,284.15. Following the completion of the sale, the chief operating officer directly owned 4,378 shares in the company, valued at approximately $140,139.78. This represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Southside Bancshares Stock Up 0.0%
NYSE:SBSI traded up $0.01 during trading hours on Friday, reaching $32.09. 32,801 shares of the stock were exchanged, compared to its average volume of 116,249. The stock has a market cap of $956.75 million, a PE ratio of 12.64 and a beta of 0.58. Southside Bancshares, Inc. has a twelve month low of $26.32 and a twelve month high of $36.20. The firm has a 50 day moving average of $33.04 and a 200 day moving average of $32.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.74 and a quick ratio of 0.74.
Southside Bancshares (NYSE:SBSI – Get Free Report) last announced its earnings results on Friday, July 24th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. Southside Bancshares had a net margin of 16.70% and a return on equity of 11.16%. The business had revenue of $71.34 million during the quarter, compared to analysts’ expectations of $75.00 million. On average, equities analysts expect that Southside Bancshares, Inc. will post 3.24 earnings per share for the current year.
Southside Bancshares Increases Dividend
Analyst Upgrades and Downgrades
SBSI has been the topic of several recent analyst reports. Piper Sandler lowered their price objective on shares of Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Zacks Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Stephens set a $37.00 price target on Southside Bancshares in a research report on Monday, July 27th. Keefe, Bruyette & Woods dropped their price objective on Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Southside Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.75.
Read Our Latest Stock Analysis on SBSI
Institutional Trading of Southside Bancshares
A number of hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in Southside Bancshares by 1.8% during the fourth quarter. Captrust Financial Advisors now owns 36,404 shares of the company’s stock worth $1,106,000 after buying an additional 640 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Southside Bancshares by 4.3% during 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. The Manufacturers Life Insurance Company grew its holdings in Southside Bancshares by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the company’s stock worth $324,000 after acquiring an additional 706 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Southside Bancshares by 1,083.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company’s stock worth $28,000 after acquiring an additional 867 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Southside Bancshares by 37.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock worth $119,000 after acquiring an additional 916 shares in the last quarter. Institutional investors and hedge funds 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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