Southside Bancshares, Inc. (NASDAQ:SBSI) CFO Julie Shamburger sold 4,558 shares of the firm's stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $34.44, for a total value of $156,977.52. Following the sale, the chief financial officer now owns 21,764 shares in the company, valued at $749,552.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
SBSI stock opened at $34.90 on Tuesday. Southside Bancshares, Inc. has a 12-month low of $23.51 and a 12-month high of $35.21. The business's 50-day moving average is $33.21 and its 200 day moving average is $29.48. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 16.62 and a beta of 0.61.
Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Tuesday, January 26th. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.25. The business had revenue of $62.80 million for the quarter, compared to the consensus estimate of $60.40 million. Southside Bancshares had a return on equity of 8.68% and a net margin of 24.55%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that Southside Bancshares, Inc. will post 2.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, February 17th. This represents a $1.28 dividend on an annualized basis and a yield of 3.67%. This is a positive change from Southside Bancshares's previous quarterly dividend of $0.31. Southside Bancshares's dividend payout ratio (DPR) is presently 58.18%.
Several brokerages have commented on SBSI. Piper Sandler raised their price objective on Southside Bancshares from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, October 26th. TheStreet upgraded shares of Southside Bancshares from a "c+" rating to a "b" rating in a research report on Monday, November 23rd.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Southside Bancshares by 4.1% during the fourth quarter. BlackRock Inc. now owns 4,824,052 shares of the bank's stock worth $149,690,000 after buying an additional 189,404 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Southside Bancshares by 309.6% during the 4th quarter. JPMorgan Chase & Co. now owns 48,297 shares of the bank's stock valued at $1,499,000 after acquiring an additional 36,507 shares in the last quarter. ProShare Advisors LLC raised its holdings in Southside Bancshares by 11.3% in the 3rd quarter. ProShare Advisors LLC now owns 280,765 shares of the bank's stock valued at $6,859,000 after acquiring an additional 28,472 shares during the last quarter. Third Avenue Management LLC lifted its stake in Southside Bancshares by 19.0% in the 3rd quarter. Third Avenue Management LLC now owns 149,269 shares of the bank's stock worth $3,647,000 after purchasing an additional 23,794 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Southside Bancshares by 20.2% during the 4th quarter. Morgan Stanley now owns 135,374 shares of the bank's stock worth $4,200,000 after purchasing an additional 22,771 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.
Southside Bancshares Company Profile
Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposit.
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