BidaskClub lowered shares of Southside Bancshares (NASDAQ:SBSI) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
Several other research analysts have also recently issued reports on SBSI. Zacks Investment Research cut shares of Southside Bancshares from a hold rating to a strong sell rating in a report on Wednesday, November 8th. ValuEngine raised shares of Southside Bancshares from a hold rating to a buy rating in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $37.33.
Shares of Southside Bancshares (NASDAQ:SBSI) traded down $0.61 during trading on Wednesday, reaching $33.40. 248,800 shares of the company’s stock traded hands, compared to its average volume of 154,897. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $1,190.35, a PE ratio of 17.92 and a beta of 0.77. Southside Bancshares has a twelve month low of $31.20 and a twelve month high of $37.57.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.12 annualized dividend and a yield of 3.35%. Southside Bancshares’s dividend payout ratio (DPR) is presently 61.63%.
In related news, CFO Julie Shamburger acquired 3,250 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of $34.88 per share, with a total value of $113,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 14,164 shares of the company’s stock, valued at $494,040.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $35.19, for a total transaction of $26,392.50. Following the transaction, the executive vice president now directly owns 3,563 shares of the company’s stock, valued at $125,381.97. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Dallas Securities Inc. purchased a new position in shares of Southside Bancshares during the fourth quarter valued at approximately $126,000. Advisor Group Inc. raised its holdings in shares of Southside Bancshares by 87.7% during the fourth quarter. Advisor Group Inc. now owns 3,985 shares of the bank’s stock valued at $135,000 after purchasing an additional 1,862 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Southside Bancshares by 111.4% during the third quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,002 shares during the last quarter. Bbva Compass Bancshares Inc. purchased a new position in shares of Southside Bancshares during the third quarter valued at approximately $204,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Southside Bancshares during the fourth quarter valued at approximately $216,000. 42.82% of the stock is owned by hedge funds and other institutional investors.
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Southside Bancshares Company Profile
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. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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