Southside Bancshares CFO Acquires $51,904 in Stock (SBSI)
Southside Bancshares (NASDAQ:SBSI) CFO Lee R. Gibson bought 2,011 shares of the company’s stock on the open market in a transaction dated Wednesday, June 4th. The stock was purchased at an average price of $25.81 per share, for a total transaction of $51,903.91. Following the acquisition, the chief financial officer now directly owns 20,814 shares in the company, valued at approximately $537,209. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of Southside Bancshares from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $35.00 price target on the stock.
Shares of Southside Bancshares (NASDAQ:SBSI) traded down 0.08% on Wednesday, hitting $25.70. 64,723 shares of the company’s stock traded hands. Southside Bancshares has a 52 week low of $22.50 and a 52 week high of $32.95. The stock has a 50-day moving average of $27.33 and a 200-day moving average of $28.10. The company has a market cap of $483.8 million and a P/E ratio of 11.97. Southside Bancshares also was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 2,583,617 shares, an increase of 64.7% from the April 30th total of 1,569,081 shares. Currently, 15.1% of the shares of the stock are short sold. Based on an average daily volume of 194,972 shares, the short-interest ratio is presently 13.3 days.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 20th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.20.
Southside Bancshares, Inc (NASDAQ:SBSI) bank holding company for Southside Bank.
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