Shares of Southside Bancshares Inc. (NASDAQ:SBSI) have been given an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Brokers have set a 1 year consensus price objective of $32.50 for the company and are anticipating that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 207 out of 265 based on the ratings given to its competitors.
SBSI has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Southside Bancshares from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 31st.
In other Southside Bancshares news, insider Tim Carter sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $31.21, for a total value of $62,420.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 17.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SBSI. Commonwealth Equity Services Inc acquired a new position in shares of Southside Bancshares during the first quarter valued at approximately $436,000. Aperio Group LLC acquired a new position in shares of Southside Bancshares during the first quarter valued at approximately $343,000. Virginia Retirement System acquired a new position in shares of Southside Bancshares during the first quarter valued at approximately $267,000. TIAA CREF Investment Management LLC raised its position in shares of Southside Bancshares by 9.2% in the first quarter. TIAA CREF Investment Management LLC now owns 100,342 shares of the company’s stock valued at $2,616,000 after buying an additional 8,425 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Southside Bancshares by 2.9% in the first quarter. Prudential Financial Inc. now owns 56,803 shares of the company’s stock valued at $1,481,000 after buying an additional 1,600 shares during the period. Institutional investors own 43.41% of the company’s stock.
Shares of Southside Bancshares (NASDAQ:SBSI) opened at 31.67 on Tuesday. The firm has a 50-day moving average of $31.96 and a 200 day moving average of $29.91. The stock has a market capitalization of $831.37 million, a PE ratio of 17.43 and a beta of 0.75. Southside Bancshares has a 1-year low of $19.54 and a 1-year high of $33.62.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Southside Bancshares had a net margin of 24.04% and a return on equity of 10.62%. On average, equities analysts anticipate that Southside Bancshares will post $2.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.03%. The ex-dividend date was Tuesday, August 16th. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.23. Southside Bancshares’s dividend payout ratio is currently 52.73%.
About Southside Bancshares
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Southside Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.