Insider Selling: Southside Bancshares, Inc. (NASDAQ:SBSI) CFO Sells $187,760.80 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) CFO Julie Shamburger sold 5,360 shares of Southside Bancshares stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Southside Bancshares Trading Down 1.1 %

NASDAQ SBSI opened at $32.96 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $36.10. The stock has a market capitalization of $997.70 million, a PE ratio of 12.25 and a beta of 0.55. The firm has a 50 day moving average of $28.35 and a two-hundred day moving average of $28.59.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.17. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. The business had revenue of $115.74 million during the quarter, compared to analysts’ expectations of $64.91 million. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, research analysts expect that Southside Bancshares, Inc. will post 2.7 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.36 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.44 annualized dividend and a yield of 4.37%. Southside Bancshares’s dividend payout ratio (DPR) is 53.53%.

Analyst Ratings Changes

Several research firms have commented on SBSI. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group boosted their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Institutional Trading of Southside Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after purchasing an additional 387 shares during the last quarter. CWM LLC raised its position in Southside Bancshares by 447.5% in the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,533 shares during the last quarter. EntryPoint Capital LLC raised its position in Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after buying an additional 1,195 shares during the last quarter. Commerce Bank purchased a new position in Southside Bancshares during the 4th quarter worth $202,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Southside Bancshares during the 1st quarter worth $233,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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 deposits.