Southside Bancshares, Inc. (NYSE:SBSI) Given Average Rating of "Hold" by Analysts

Key Points

• Southside Bancshares has an average analyst rating of “Hold”, with five of six analysts recommending hold and one recommending buy. The consensus 12-month price target is $35.00.
• The company recently reported better-than-expected earnings, posting $0.78 EPS versus the $0.76 estimate, though revenue of $70.28 million slightly missed forecasts. Analysts expect full-year EPS of 3.43.
• Southside Bancshares pays a quarterly dividend of $0.36, equal to an annualized yield of 4.2%. The stock closed at $34.07, near its recent trading range and just below the average price target.

Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) has been given an average recommendation of "Hold" by the six ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.00.

Several equities research analysts have commented on the company. Benchmark began coverage on Southside Bancshares in a report on Wednesday, June 24th. They issued a "hold" rating on the stock. Piper Sandler started coverage on Southside Bancshares in a research report on Wednesday, April 15th. They issued a "neutral" rating and a $35.00 price target for the company. Finally, Weiss Ratings upgraded shares of Southside Bancshares from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th.

Institutional Investors Weigh In On Southside Bancshares

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Southside Bancshares by 1,083.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company's stock valued at $28,000 after acquiring an additional 867 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Southside Bancshares during the 4th quarter valued at $45,000. CIBC Private Wealth Group LLC bought a new stake in shares of Southside Bancshares in the 3rd quarter worth $45,000. GAMMA Investing LLC increased its holdings in shares of Southside Bancshares by 26.6% in the 4th quarter. GAMMA Investing LLC now owns 1,809 shares of the company's stock worth $55,000 after purchasing an additional 380 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Southside Bancshares by 927.6% during the third quarter. Russell Investments Group Ltd. now owns 2,826 shares of the company's stock valued at $80,000 after purchasing an additional 2,551 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Price Performance

Shares of NYSE SBSI opened at $34.07 on Friday. The company has a 50 day simple moving average of $33.83 and a two-hundred day simple moving average of $32.70. Southside Bancshares has a fifty-two week low of $26.32 and a fifty-two week high of $36.20. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 14.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74.

Southside Bancshares (NYSE:SBSI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $70.28 million for the quarter, compared to analysts' expectations of $70.92 million. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%. Analysts expect that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.44 annualized dividend and a yield of 4.2%. Southside Bancshares's payout ratio is 61.02%.

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.

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