Southside Bancshares (NASDAQ:SBSI) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.65 and traded as high as $31.32. Southside Bancshares shares last traded at $31.15, with a volume of 68,868 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, May 9th.

Southside Bancshares Trading Up 0.4%

The business's 50-day moving average is $29.00 and its two-hundred day moving average is $29.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $941.08 million, a PE ratio of 10.70 and a beta of 0.67.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating 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 prior year, the business posted $0.71 EPS. On average, analysts predict that Southside Bancshares, Inc. will post 2.84 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Thursday, May 22nd. Southside Bancshares's payout ratio is 49.48%.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBSI. Raymond James Financial Inc. acquired a new stake in Southside Bancshares in the 4th quarter worth $337,000. Amundi boosted its position in shares of Southside Bancshares by 168.5% during the 4th quarter. Amundi now owns 13,749 shares of the bank's stock valued at $423,000 after acquiring an additional 8,628 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Southside Bancshares by 54.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,482 shares of the bank's stock valued at $1,730,000 after buying an additional 19,141 shares in the last quarter. Magnetar Financial LLC acquired a new position in Southside Bancshares in the fourth quarter valued at about $218,000. Finally, Quantbot Technologies LP boosted its position in Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after buying an additional 1,006 shares in the last quarter. Hedge funds and other 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.

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