BidaskClub lowered shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a strong sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Separately, Zacks Investment Research raised Southside Bancshares from a sell rating to a hold rating in a research report on Thursday, April 4th.

SBSI stock opened at $31.78 on Friday. Southside Bancshares has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 15.06 and a beta of 0.82. The company’s 50 day moving average is $33.76.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The company had revenue of $53.05 million during the quarter, compared to analyst estimates of $54.48 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Southside Bancshares will post 2.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, May 22nd. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.30. Southside Bancshares’s dividend payout ratio (DPR) is 58.77%.

In related news, Director Tony K. Morgan acquired 1,000 shares of Southside Bancshares stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $33.01 per share, with a total value of $33,010.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 1,127 shares of company stock valued at $37,429. 5.80% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Southside Bancshares by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock worth $174,000 after buying an additional 1,648 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock valued at $221,000 after purchasing an additional 6,653 shares in the last quarter. United Services Automobile Association purchased a new position in Southside Bancshares during the fourth quarter valued at $236,000. Metropolitan Life Insurance Co. NY lifted its position in Southside Bancshares by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock valued at $348,000 after purchasing an additional 8,565 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Southside Bancshares during the fourth quarter valued at $388,000. 53.35% of the stock is owned by institutional investors and hedge funds.

About Southside Bancshares

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 deposit.

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