Southside Bancshares (NASDAQ:SBSI) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) 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.

Wall Street Analysts Forecast Growth

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

Southside Bancshares Price Performance

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 company has a market cap of $940.32 million, a P/E ratio of 10.69 and a beta of 0.67. The business's fifty day moving average is $29.04 and its 200 day moving average is $29.60.

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

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.63%. Southside Bancshares's dividend payout ratio (DPR) is presently 49.48%.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds have recently modified their holdings of SBSI. GAMMA Investing LLC raised its holdings in Southside Bancshares by 2,583.7% during the 1st quarter. GAMMA Investing LLC now owns 35,881 shares of the bank's stock valued at $1,039,000 after acquiring an additional 34,544 shares during the period. Quantbot Technologies LP raised its holdings in Southside Bancshares by 34.9% during the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after acquiring an additional 1,006 shares during the period. Deutsche Bank AG raised its holdings in Southside Bancshares by 53.9% during the 4th quarter. Deutsche Bank AG now owns 27,043 shares of the bank's stock valued at $859,000 after acquiring an additional 9,466 shares during the period. New York State Teachers Retirement System raised its holdings in Southside Bancshares by 15.7% during the 1st quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank's stock valued at $266,000 after acquiring an additional 1,244 shares during the period. Finally, American Century Companies Inc. raised its holdings in Southside Bancshares by 4.6% during the 4th quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock valued at $8,964,000 after acquiring an additional 12,345 shares during the period. Institutional investors own 55.70% of the company's stock.

About Southside Bancshares

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.