Southside Bancshares, Inc. (NYSE:SBSI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Southside Bancshares, Inc. (NYSE:SBSI) have earned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.75.

Several equities research analysts recently commented on SBSI shares. Benchmark initiated coverage on shares of Southside Bancshares in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Piper Sandler decreased their price target 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. Stephens set a $37.00 price objective on Southside Bancshares in a report on Monday, July 27th. Keefe, Bruyette & Woods reduced their target price on Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Monday, August 3rd. Finally, Zacks Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th.

Institutional Trading of Southside Bancshares

Several large investors have recently bought and sold shares of the business. Quantinno Capital Management LP grew its position in shares of Southside Bancshares by 75.6% in the first quarter. Quantinno Capital Management LP now owns 37,875 shares of the company’s stock valued at $1,178,000 after purchasing an additional 16,306 shares in the last quarter. Deutsche Bank AG purchased a new stake in Southside Bancshares in the 2nd quarter valued at $1,106,000. Pingora Partners LLC purchased a new position in shares of Southside Bancshares during the 2nd quarter worth $2,054,000. Fifth Third Bancorp raised its holdings in shares of Southside Bancshares by 35,847.8% during the 1st quarter. Fifth Third Bancorp now owns 16,536 shares of the company’s stock worth $514,000 after acquiring an additional 16,490 shares during the period. Finally, Empowered Funds LLC increased its position in Southside Bancshares by 224.9% during the first quarter. Empowered Funds LLC now owns 100,298 shares of the company’s stock worth $3,118,000 after purchasing an additional 69,431 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Trading Up 0.1%

Shares of Southside Bancshares stock opened at $32.13 on Friday. The firm has a 50-day simple moving average of $32.98 and a two-hundred day simple moving average of $32.66. The company has a market cap of $957.76 million, a P/E ratio of 12.65 and a beta of 0.58. Southside Bancshares has a fifty-two week low of $26.32 and a fifty-two week high of $36.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.74 and a current ratio of 0.74.

Southside Bancshares (NYSE:SBSI) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. Southside Bancshares had a return on equity of 11.16% and a net margin of 16.70%.The company had revenue of $71.34 million for the quarter, compared to the consensus estimate of $75.00 million. As a group, equities analysts predict that Southside Bancshares will post 3.24 earnings per share for the current fiscal year.

Southside Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 20th. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. Southside Bancshares’s payout ratio is currently 58.27%.

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.