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

Key Points

• Analysts are cautious on SBSI: Southside Bancshares has a consensus rating of Hold from five analysts, with four holds and one buy. The average 12-month price target is $35.00.
• Recent earnings beat estimates: The company reported $0.78 EPS for the latest quarter, topping expectations by $0.02. Revenue came in at $70.29 million, slightly below analyst estimates.
• Southside Bancshares offers a solid dividend: The bank declared a quarterly dividend of $0.36 per share, or $1.44 annualized, for a yield of about 4.3%. Institutional investors own 55.70% of the stock.

Shares of Southside Bancshares, Inc. (NYSE:SBSI - Get Free Report) have been given a consensus rating of "Hold" by the five ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $35.00.

SBSI has been the subject of several recent analyst reports. Hovde Group raised their price objective on shares of Southside Bancshares from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Southside Bancshares from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Piper Sandler started coverage on shares of Southside Bancshares in a report on Wednesday, April 15th. They issued a "neutral" rating and a $35.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of Southside Bancshares from $31.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, February 2nd. Finally, Wall Street Zen raised Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th.

Southside Bancshares Trading Down 0.5%

Shares of SBSI stock opened at $33.47 on Friday. The business's fifty day moving average price is $31.74 and its 200 day moving average price is $31.15. The firm has a market capitalization of $995.76 million, a PE ratio of 14.18 and a beta of 0.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74. Southside Bancshares has a 1-year low of $26.32 and a 1-year high of $34.53.

Southside Bancshares (NYSE:SBSI - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%.The company had revenue of $70.29 million during the quarter, compared to the consensus estimate of $70.92 million. As a group, sell-side analysts forecast that Southside Bancshares will post 3.43 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.44 annualized dividend and a yield of 4.3%. Southside Bancshares's payout ratio is currently 61.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Southside Bancshares by 1,083.8% during the second quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company's stock worth $28,000 after buying an additional 867 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Southside Bancshares in the fourth quarter valued at $45,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Southside Bancshares during the third quarter valued at $45,000. GAMMA Investing LLC increased its position in Southside Bancshares by 26.6% during 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. raised its stake in Southside Bancshares by 927.6% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 55.70% of the company's stock.

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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