Southside Bancshares, Inc. (SBSI) Given Consensus Rating of “Hold” by Brokerages
Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been given a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus target price of $37.00 for the company and are predicting that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 123 out of 265 based on the ratings given to related companies.
SBSI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued 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 Thursday, September 28th. BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Piper Jaffray Companies initiated coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective for the company.
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In related news, COO Brian K. Mccabe sold 1,500 shares of Southside Bancshares 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 completion of the sale, the chief operating officer now owns 16,658 shares of the company’s stock, valued at approximately $549,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tim Carter sold 7,000 shares of Southside Bancshares stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.95, for a total transaction of $237,650.00. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Southside Bancshares by 0.5% during the 2nd quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock worth $116,987,000 after buying an additional 15,123 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Southside Bancshares by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock worth $60,373,000 after buying an additional 100,282 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Southside Bancshares by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,298,766 shares of the bank’s stock worth $45,379,000 after buying an additional 82,423 shares during the period. State Street Corp boosted its holdings in shares of Southside Bancshares by 37.0% during the 1st quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after buying an additional 246,458 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Southside Bancshares by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock worth $19,846,000 after buying an additional 23,654 shares during the period. 51.28% of the stock is owned by institutional investors and hedge funds.
Shares of Southside Bancshares (NASDAQ SBSI) traded down $0.53 during mid-day trading on Friday, reaching $35.50. 90,366 shares of the company’s stock traded hands, compared to its average volume of 83,396. Southside Bancshares has a 12-month low of $30.44 and a 12-month high of $38.04. The firm has a market cap of $1,040.00, a price-to-earnings ratio of 18.62 and a beta of 0.75. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.56.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. The firm had revenue of $44.37 million during the quarter, compared to the consensus estimate of $51.00 million. equities analysts expect that Southside Bancshares will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, November 15th. Southside Bancshares’s dividend payout ratio (DPR) is presently 58.64%.
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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