Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Sells $126,488.37 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) insider T L. Arnold, Jr. sold 3,999 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the sale, the insider now owns 16,441 shares in the company, valued at approximately $520,028.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Southside Bancshares Stock Performance

NASDAQ:SBSI opened at $31.51 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s fifty day moving average is $28.87 and its 200 day moving average is $28.60. The firm has a market capitalization of $954.28 million, a PE ratio of 11.71 and a beta of 0.55. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $36.10.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.17. The business had revenue of $115.74 million for the quarter, compared to the consensus estimate of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that Southside Bancshares, Inc. will post 2.7 earnings per share for the current year.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, August 22nd. Southside Bancshares’s dividend payout ratio (DPR) is currently 53.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBSI. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group boosted their price objective on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Institutional Trading of Southside Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Southside Bancshares by 54.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after buying an additional 387 shares during the period. CWM LLC increased its stake in Southside Bancshares by 447.5% in the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after purchasing an additional 2,533 shares during the period. EntryPoint Capital LLC lifted its position in shares of Southside Bancshares by 57.0% during the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after purchasing an additional 1,195 shares during the last quarter. Commerce Bank purchased a new stake in shares of Southside Bancshares during the fourth quarter valued at $202,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Southside Bancshares in the first quarter worth about $233,000. Institutional investors own 55.70% of the company’s stock.

About Southside Bancshares

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 deposits.