Southside Bancshares (NASDAQ:SBSI) Upgraded to "Hold" at StockNews.com

StockNews.com upgraded shares of Southside Bancshares (NASDAQ:SBSI - Free Report) from a sell rating to a hold rating in a report released on Friday.

SBSI has been the topic of a number of other research reports. Raymond James initiated coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating on the stock. Stephens dropped their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Thursday, January 30th.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock traded up $0.82 on Friday, reaching $29.70. The stock had a trading volume of 129,330 shares, compared to its average volume of 116,502. The business's 50-day moving average price is $28.40 and its two-hundred day moving average price is $31.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. Southside Bancshares has a fifty-two week low of $25.30 and a fifty-two week high of $38.00. The stock has a market cap of $897.45 million, a P/E ratio of 10.21 and a beta of 0.65.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.04. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. The business had revenue of $100.29 million for the quarter, compared to analyst estimates of $67.37 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that Southside Bancshares will post 2.84 EPS for the current year.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Thursday, May 22nd. Southside Bancshares's dividend payout ratio is 49.48%.

Institutional Investors Weigh In On Southside Bancshares

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Southside Bancshares by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank's stock worth $41,921,000 after acquiring an additional 49,565 shares during the last quarter. Renaissance Technologies LLC lifted its position in Southside Bancshares by 4.0% during the 4th quarter. Renaissance Technologies LLC now owns 538,985 shares of the bank's stock valued at $17,118,000 after purchasing an additional 20,800 shares during the period. JPMorgan Chase & Co. lifted its position in Southside Bancshares by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank's stock valued at $16,253,000 after purchasing an additional 126,587 shares during the period. Northern Trust Corp lifted its position in Southside Bancshares by 5.8% during the 4th quarter. Northern Trust Corp now owns 318,699 shares of the bank's stock valued at $10,122,000 after purchasing an additional 17,564 shares during the period. Finally, Invesco Ltd. lifted its position in Southside Bancshares by 139.9% during the 4th quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock valued at $9,296,000 after purchasing an additional 170,685 shares during the period. Institutional investors own 55.70% of the company's stock.

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 deposits.