Brian K. Mccabe Sells 1,500 Shares of Southside Bancshares, Inc. (SBSI) Stock
Southside Bancshares, Inc. (NASDAQ:SBSI) COO Brian K. Mccabe sold 1,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $33.00, for a total transaction of $49,500.00. Following the sale, the chief operating officer now directly owns 16,658 shares in the company, valued at $549,714. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Southside Bancshares, Inc. (SBSI) traded down 0.66% during mid-day trading on Thursday, reaching $32.96. 39,967 shares of the company traded hands. The firm has a 50 day moving average of $33.19 and a 200-day moving average of $33.59. Southside Bancshares, Inc. has a 52 week low of $30.47 and a 52 week high of $38.08. The stock has a market capitalization of $967.15 million, a PE ratio of 17.36 and a beta of 0.78.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, July 28th. The bank reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.04). The firm had revenue of $44.72 million during the quarter, compared to the consensus estimate of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. On average, equities research analysts expect that Southside Bancshares, Inc. will post $2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a $0.28 dividend. The ex-dividend date was Tuesday, August 15th. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.40%. Southside Bancshares’s payout ratio is currently 59.11%.
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SBSI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price objective on shares of Southside Bancshares in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th.
Institutional investors have recently made changes to their positions in the business. Oxford Asset Management bought a new position in Southside Bancshares in the first quarter worth about $746,000. Victory Capital Management Inc. bought a new position in Southside Bancshares in the first quarter worth about $555,000. Bank of America Corp DE raised its holdings in Southside Bancshares by 70.3% in the first quarter. Bank of America Corp DE now owns 46,138 shares of the bank’s stock worth $1,549,000 after purchasing an additional 19,051 shares in the last quarter. Karp Capital Management Corp bought a new position in Southside Bancshares in the first quarter worth about $480,000. Finally, Parametric Portfolio Associates LLC raised its holdings in Southside Bancshares by 13.1% in the first quarter. Parametric Portfolio Associates LLC now owns 32,064 shares of the bank’s stock worth $1,076,000 after purchasing an additional 3,708 shares in the last quarter. Institutional investors and hedge funds own 51.45% of the company’s stock.
About Southside Bancshares
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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