Southside Bancshares, Inc. (NYSE:SBSI) Receives Average Rating of "Hold" from Brokerages

Key Points

• Brokerages have an average rating of "Hold" on Southside Bancshares, with five analysts covering the stock and a consensus 1-year price target of $35.00.
• The company reported Q1 EPS of $0.70, missing the consensus of $0.80 by $0.10; Southside's market cap is about $981 million with a P/E of 14.41.
• Southside pays a quarterly dividend of $0.36 (annualized $1.44), representing a 4.4% yield and a payout ratio of roughly 62.9%.

Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) has earned an average rating of "Hold" from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $35.00.

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Southside Bancshares from $31.00 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, February 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $35.00 target price on shares of Southside Bancshares in a research note on Wednesday. Hovde Group boosted their target price on shares of Southside Bancshares from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Southside Bancshares in a research note on Friday, March 27th.

Institutional Trading of Southside Bancshares

Several institutional investors have recently modified their holdings of SBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 during the last quarter. Empowered Funds LLC grew its stake in shares of 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 during the last quarter. Jane Street Group LLC bought a new stake in shares of Southside Bancshares in the first quarter worth $1,520,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of 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 during the last quarter. Institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Performance

NYSE SBSI opened at $32.99 on Wednesday. The firm's fifty day moving average price is $31.73 and its two-hundred day moving average price is $30.61. The stock has a market cap of $981.12 million, a PE ratio of 14.41 and a beta of 0.59. Southside Bancshares has a fifty-two week low of $26.32 and a fifty-two week high of $34.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

Southside Bancshares (NYSE:SBSI - Get Free Report) last posted its earnings results on Wednesday, January 28th. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.10). The company had revenue of $71.99 million for the quarter. Southside Bancshares had a return on equity of 10.72% and a net margin of 15.61%.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $1.44 annualized dividend and a dividend yield of 4.4%. Southside Bancshares's payout ratio is currently 62.88%.

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.

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