Southside Bancshares (NASDAQ:SBSI) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Southside Bancshares, Inc. (NASDAQ:SBSI)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.22 and traded as high as $33.20. Southside Bancshares shares last traded at $33.1190, with a volume of 70,215 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SBSI shares. Keefe, Bruyette & Woods boosted their price objective on shares of Southside Bancshares from $31.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Hovde Group upped their target price on Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.00.

Southside Bancshares Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $995.76 million, a price-to-earnings ratio of 11.38 and a beta of 0.64. The business’s 50 day simple moving average is $32.04 and its 200-day simple moving average is $30.22.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 19th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.3%. The ex-dividend date is Thursday, February 19th. Southside Bancshares’s dividend payout ratio (DPR) is currently 62.88%.

Insiders Place Their Bets

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,807 shares of Southside Bancshares stock in a transaction on Thursday, December 4th. The stock was bought at an average price of $30.68 per share, for a total transaction of $55,438.76. Following the transaction, the director owned 389,288 shares of the company’s stock, valued at $11,943,355.84. The trade was a 0.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Southside Bancshares by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,031,944 shares of the bank’s stock worth $61,751,000 after purchasing an additional 31,575 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Southside Bancshares by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,382,523 shares of the bank’s stock worth $39,056,000 after buying an additional 5,237 shares in the last quarter. State Street Corp lifted its stake in shares of Southside Bancshares by 0.6% in the 4th quarter. State Street Corp now owns 1,308,609 shares of the bank’s stock worth $39,769,000 after acquiring an additional 7,706 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Southside Bancshares by 0.9% in the second quarter. Geode Capital Management LLC now owns 689,791 shares of the bank’s stock valued at $20,301,000 after acquiring an additional 5,975 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Southside Bancshares by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 405,877 shares of the bank’s stock valued at $12,335,000 after acquiring an additional 37,253 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

About Southside Bancshares

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.