Southside Bancshares, Inc. (NYSE:SBSI) Receives Average Recommendation of “Hold” from Brokerages

Southside Bancshares, Inc. (NYSE:SBSI) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $35.00.

A number of analysts recently weighed in on SBSI shares. Piper Sandler started coverage on Southside Bancshares in a research report on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 target price for the company. Wall Street Zen upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Weiss Ratings upgraded Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th.

Southside Bancshares Stock Down 3.0%

SBSI stock opened at $31.79 on Thursday. 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 firm has a market capitalization of $945.60 million, a PE ratio of 13.47 and a beta of 0.58. Southside Bancshares has a twelve month low of $26.32 and a twelve month high of $34.53. The stock has a 50-day simple moving average of $32.45 and a two-hundred day simple moving average of $31.73.

Southside Bancshares (NYSE:SBSI) last issued its quarterly earnings data 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 analyst estimates of $70.92 million. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%. On average, equities analysts predict that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, May 18th. Southside Bancshares’s dividend payout ratio is currently 61.02%.

Hedge Funds Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Southside Bancshares by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the company’s stock worth $494,000 after purchasing an additional 701 shares in the last quarter. Empowered Funds LLC raised its holdings in Southside Bancshares by 5.4% in the first quarter. Empowered Funds LLC now owns 82,211 shares of the company’s stock worth $2,381,000 after purchasing an additional 4,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Southside Bancshares by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the company’s stock worth $2,038,000 after purchasing an additional 6,459 shares in the last quarter. Jane Street Group LLC bought a new position in Southside Bancshares in the first quarter worth $1,520,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Southside Bancshares by 30.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 142,955 shares of the company’s stock worth $4,207,000 after purchasing an additional 33,443 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Company Profile

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.