Southside Bancshares (NASDAQ:SBSI) Trading Up 5.9%

Shares of Southside Bancshares, Inc. (NASDAQ:SBSIGet Free Report) were up 5.9% during mid-day trading on Monday . The stock traded as high as $30.43 and last traded at $30.19. Approximately 88,289 shares changed hands during trading, a decline of 34% from the average daily volume of 133,874 shares. The stock had previously closed at $28.52.

Southside Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. The company has a 50 day simple moving average of $30.46 and a 200-day simple moving average of $29.59. The stock has a market cap of $900.84 million, a P/E ratio of 10.78 and a beta of 0.53.

Southside Bancshares (NASDAQ:SBSIGet Free Report) last released its quarterly earnings data on Friday, January 26th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.10). The company had revenue of $68.50 million during the quarter, compared to analysts’ expectations of $64.82 million. Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities analysts expect that Southside Bancshares, Inc. will post 2.86 earnings per share for the current fiscal year.

Southside Bancshares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 4.84%. Southside Bancshares’s dividend payout ratio is currently 51.25%.

Insider Transactions at Southside Bancshares

In related news, Director Herbert C. Buie acquired 1,990 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were purchased at an average price of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the acquisition, the director now owns 407,501 shares in the company, valued at $13,251,932.52. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new stake in Southside Bancshares during the 2nd quarter valued at approximately $38,000. Point72 Middle East FZE bought a new stake in Southside Bancshares during the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its position in Southside Bancshares by 305.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,944 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,465 shares in the last quarter. Quantbot Technologies LP bought a new stake in Southside Bancshares during the 2nd quarter valued at approximately $105,000. Finally, Denali Advisors LLC bought a new stake in Southside Bancshares during the 3rd quarter valued at approximately $135,000. Hedge funds and other institutional investors own 57.48% of the company’s stock.

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 deposit.

Further Reading

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