Southside Bancshares (NASDAQ:SBSI) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.74 and traded as high as $31.02. Southside Bancshares shares last traded at $30.80, with a volume of 111,492 shares traded.

Wall Street Analyst Weigh In

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

Southside Bancshares Stock Up 1.4%

The firm has a market cap of $942.68 million, a PE ratio of 10.72 and a beta of 0.67. The business's 50 day moving average price is $28.79 and its 200 day moving average price is $29.67. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its 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 business had revenue of $100.29 million during 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 company earned $0.71 earnings per share. On average, equities research analysts expect that Southside Bancshares, Inc. will post 2.84 earnings per share for the current year.

Southside Bancshares Announces Dividend

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

Institutional Investors Weigh In On Southside Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its stake in Southside Bancshares by 44.5% during the 1st quarter. Voya Investment Management LLC now owns 46,004 shares of the bank's stock worth $1,332,000 after purchasing an additional 14,164 shares during the last quarter. Jane Street Group LLC acquired a new stake in Southside Bancshares during the 1st quarter worth $1,520,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Southside Bancshares by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the bank's stock worth $2,038,000 after purchasing an additional 6,459 shares during the last quarter. Empowered Funds LLC boosted its stake in Southside Bancshares by 5.4% during the 1st quarter. Empowered Funds LLC now owns 82,211 shares of the bank's stock worth $2,381,000 after purchasing an additional 4,198 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Southside Bancshares during the 1st quarter worth $537,000. Institutional investors and hedge funds 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.