Southside Bancshares (NASDAQ:SBSI) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Southside Bancshares (NASDAQ:SBSIFree Report) from a sell rating to a hold rating in a report issued on Friday.

Separately, Hovde Group reduced their price target on Southside Bancshares from $35.00 to $31.00 and set a market perform rating on the stock in a research report on Thursday, May 9th.

View Our Latest Analysis on Southside Bancshares

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $26.22 on Friday. The stock has a market capitalization of $793.94 million, a P/E ratio of 9.75 and a beta of 0.54. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $27.01 and its 200 day moving average is $28.87. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $34.40.

Southside Bancshares (NASDAQ:SBSIGet Free Report) last posted its earnings results on Thursday, April 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.04). The firm had revenue of $112.48 million during the quarter, compared to analysts’ expectations of $67.10 million. Southside Bancshares had a return on equity of 10.80% and a net margin of 19.79%. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, sell-side analysts anticipate that Southside Bancshares will post 2.7 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.49%. Southside Bancshares’s dividend payout ratio is currently 53.53%.

Hedge Funds Weigh In On Southside Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of SBSI. Texas Permanent School Fund Corp lifted its position in shares of Southside Bancshares by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 25,150 shares of the bank’s stock valued at $735,000 after acquiring an additional 369 shares in the last quarter. Aigen Investment Management LP increased its holdings in shares of Southside Bancshares by 3.9% in the third quarter. Aigen Investment Management LP now owns 14,709 shares of the bank’s stock worth $422,000 after purchasing an additional 548 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Southside Bancshares by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,315 shares of the bank’s stock worth $828,000 after purchasing an additional 1,074 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Southside Bancshares by 16.9% in the fourth quarter. SG Americas Securities LLC now owns 7,722 shares of the bank’s stock worth $242,000 after purchasing an additional 1,115 shares during the last quarter. Finally, EntryPoint Capital LLC increased its holdings in shares of Southside Bancshares by 57.0% in 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. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Company Profile

(Get Free Report)

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.

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