BidaskClub upgraded shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a hold rating in a research note released on Thursday morning, BidAskClub reports.

Separately, Zacks Investment Research raised shares of Southside Bancshares from a sell rating to a hold rating in a research note on Saturday, July 27th.

NASDAQ:SBSI traded up $0.33 during mid-day trading on Thursday, hitting $35.00. The company’s stock had a trading volume of 13,311 shares, compared to its average volume of 90,185. Southside Bancshares has a fifty-two week low of $29.28 and a fifty-two week high of $37.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 16.61 and a beta of 0.70. The stock has a fifty day moving average of $33.17 and a 200-day moving average of $33.50.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, July 26th. The bank reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $55.41 million for the quarter, compared to analysts’ expectations of $55.28 million. Southside Bancshares had a net margin of 27.23% and a return on equity of 10.04%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, equities analysts anticipate that Southside Bancshares will post 2.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.24 annualized dividend and a yield of 3.54%. Southside Bancshares’s dividend payout ratio is 58.77%.

In other news, Director John F. Sammons, Jr. acquired 1,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $33.18 per share, with a total value of $49,770.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SBSI. Advisory Services Network LLC grew its stake in Southside Bancshares by 477.5% during the second quarter. Advisory Services Network LLC now owns 1,155 shares of the bank’s stock worth $37,000 after buying an additional 955 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Southside Bancshares during the second quarter valued at approximately $58,000. US Bancorp DE grew its stake in shares of Southside Bancshares by 9.6% during the second quarter. US Bancorp DE now owns 4,288 shares of the bank’s stock valued at $139,000 after purchasing an additional 375 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Southside Bancshares by 166.3% during the second quarter. Bank of Montreal Can now owns 4,397 shares of the bank’s stock valued at $143,000 after purchasing an additional 2,746 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of 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 during the last quarter. 52.84% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Company Profile

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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