BidaskClub upgraded shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a hold rating in a report released on Thursday.
A number of other equities research analysts have also recently commented on SBSI. Zacks Investment Research upgraded Southside Bancshares from a strong sell rating to a hold rating and set a $38.00 price target for the company in a research note on Saturday, January 6th. ValuEngine upgraded Southside Bancshares from a hold rating to a buy rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $37.33.
Shares of Southside Bancshares (SBSI) traded up $0.62 during mid-day trading on Thursday, reaching $35.78. The company had a trading volume of 196,186 shares, compared to its average volume of 210,933. Southside Bancshares has a 12 month low of $30.44 and a 12 month high of $37.57. The company has a market capitalization of $1,253.30, a P/E ratio of 18.86 and a beta of 0.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.77 and a current ratio of 0.77.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, February 21st. Southside Bancshares’s dividend payout ratio (DPR) is presently 61.63%.
In other Southside Bancshares news, EVP Peter M. Boyd sold 750 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the sale, the executive vice president now directly owns 3,563 shares in the company, valued at $125,381.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Julie Shamburger purchased 3,250 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $34.88 per share, with a total value of $113,360.00. Following the completion of the purchase, the chief financial officer now owns 14,164 shares of the company’s stock, valued at approximately $494,040.32. The disclosure for this purchase can be found here. Company insiders own 17.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB purchased a new stake in Southside Bancshares in the fourth quarter valued at about $216,000. MetLife Investment Advisors LLC purchased a new position in shares of Southside Bancshares in the fourth quarter worth about $438,000. Millennium Management LLC purchased a new position in shares of Southside Bancshares in the fourth quarter worth about $1,333,000. Goldman Sachs Group Inc. raised its stake in shares of Southside Bancshares by 46.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 91,153 shares of the bank’s stock worth $3,070,000 after purchasing an additional 28,826 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Southside Bancshares by 99.6% in the fourth quarter. Deutsche Bank AG now owns 73,216 shares of the bank’s stock worth $2,463,000 after purchasing an additional 36,534 shares during the last quarter. Institutional investors own 43.57% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Southside Bancshares (SBSI) Upgraded at BidaskClub” was originally posted by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3255709/southside-bancshares-sbsi-upgraded-at-bidaskclub.html.
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. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.