Southside Bancshares, Inc. (NYSE:SBSI) Receives Consensus Rating of “Hold” from Analysts

Shares of Southside Bancshares, Inc. (NYSE:SBSI) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $35.00.

SBSI has been the subject of several recent research reports. Weiss Ratings raised shares of Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Benchmark began coverage on shares of Southside Bancshares in a research report on Wednesday. They issued a “hold” rating for the company. Finally, Piper Sandler began coverage on shares of Southside Bancshares in a report on Wednesday, April 15th. They set a “neutral” rating and a $35.00 price objective for the company.

Institutional Trading of Southside Bancshares

Large investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Southside Bancshares during the 4th quarter worth $1,260,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Southside Bancshares during the 4th quarter worth $465,000. Vanguard Group Inc. boosted its holdings in shares of Southside Bancshares by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,031,944 shares of the company’s stock worth $61,751,000 after buying an additional 31,575 shares during the period. Bayview Asset Management LLC boosted its holdings in shares of Southside Bancshares by 48.6% during the 4th quarter. Bayview Asset Management LLC now owns 85,457 shares of the company’s stock worth $2,597,000 after buying an additional 27,957 shares during the period. Finally, CWM LLC boosted its holdings in shares of Southside Bancshares by 21.5% during the 4th quarter. CWM LLC now owns 7,382 shares of the company’s stock worth $224,000 after buying an additional 1,306 shares during the period. 55.70% of the stock is owned by institutional investors.

Southside Bancshares Stock Performance

SBSI stock opened at $35.05 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.85 and a beta of 0.58. Southside Bancshares has a 12 month low of $26.32 and a 12 month high of $35.38. The firm has a 50 day moving average of $33.16 and a two-hundred day moving average of $32.26.

Southside Bancshares (NYSE:SBSI) last posted its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $70.29 million during the quarter, compared to the consensus estimate of $70.92 million. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. As a group, equities analysts anticipate that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, May 18th. Southside Bancshares’s dividend payout ratio is currently 61.02%.

About Southside Bancshares

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.