Southside Bancshares (NASDAQ:SBSI) Sets New 12-Month High at $36.37


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Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) reached a new 52-week high on Tuesday . The stock traded as high as $36.37 and last traded at $35.41, with a volume of 4385 shares traded. The stock had previously closed at $34.90.

Several research firms have recently weighed in on SBSI. Piper Sandler upped their price objective on Southside Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. TheStreet raised Southside Bancshares from a “c+” rating to a “b” rating in a research report on Monday, November 23rd.

The firm has a 50-day moving average of $33.21 and a 200 day moving average of $29.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 16.62 and a beta of 0.61.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Tuesday, January 26th. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.64 by $0.25. Southside Bancshares had a return on equity of 8.68% and a net margin of 24.55%. The firm had revenue of $62.80 million during the quarter, compared to analysts’ expectations of $60.40 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that Southside Bancshares, Inc. will post 2.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, February 17th. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.31. Southside Bancshares’s dividend payout ratio (DPR) is 58.18%.

In other Southside Bancshares news, CEO Lee R. Gibson sold 12,036 shares of the firm’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $34.03, for a total transaction of $409,585.08. Following the transaction, the chief executive officer now owns 51,452 shares in the company, valued at approximately $1,750,911.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Julie Shamburger sold 4,558 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $34.44, for a total value of $156,977.52. Following the transaction, the chief financial officer now owns 21,764 shares in the company, valued at approximately $749,552.16. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of SBSI. SG Americas Securities LLC acquired a new stake in shares of Southside Bancshares in the 4th quarter valued at $186,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Southside Bancshares by 318.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,215 shares of the bank’s stock valued at $201,000 after purchasing an additional 6,253 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Southside Bancshares in the 3rd quarter valued at $207,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Southside Bancshares in the 3rd quarter valued at $232,000. Finally, Trexquant Investment LP acquired a new stake in shares of Southside Bancshares in the 4th quarter valued at $240,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Company Profile (NASDAQ:SBSI)

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposit.

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