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 deposit. The company's loan portfolio comprises consumer loans that include 1-4 family residential loans, home equity loans, home improvement loans, automobile loans, and other consumer related loans; commercial loans, such as short-term working capital loans for inventory and accounts receivable, short and medium-term loans for equipment or other business capital expansion, commercial real estate loans, and municipal loans; and construction loans for 1-4 family residential and commercial real estate. It also offers wealth management and trust services consisting of investment management, administration, revocable and testamentary trusts, and custodian services for individuals, partnerships, and corporations; safe deposit services; and brokerage services. As of December 31, 2021, the company operated through 56 banking facilities and 73 ATMs/ITMs. Southside Bancshares, Inc. was founded in 1960 and is headquartered in Tyler, Texas.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on SBSI shares. Stephens raised their price target on shares of Southside Bancshares to $43.00 in a research report on Tuesday, July 26th. Piper Sandler lowered their price target on shares of Southside Bancshares to $41.00 in a research report on Monday, July 4th.
Southside Bancshares Stock Performance
NASDAQ:SBSI traded up $0.10 during mid-day trading on Tuesday, reaching $39.62. 128 shares of the company's stock were exchanged, compared to its average volume of 67,280. Southside Bancshares has a one year low of $35.44 and a one year high of $45.36. The firm has a market capitalization of $1.27 billion, a PE ratio of 11.83 and a beta of 0.57. The business's fifty day simple moving average is $38.21 and its two-hundred day simple moving average is $39.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.64 and a current ratio of 0.64.
Southside Bancshares (NASDAQ:SBSI - Get Rating) last released its earnings results on Monday, July 25th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same period last year, the company posted $0.65 EPS. Analysts anticipate that Southside Bancshares will post 3.31 earnings per share for the current fiscal year.
Southside Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Wednesday, August 17th. Southside Bancshares's dividend payout ratio is currently 40.72%.
Insider Buying and Selling at Southside Bancshares
In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the firm's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $39.44, for a total value of $79,077.20. Following the transaction, the insider now directly owns 2,021 shares of the company's stock, valued at approximately $79,708.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.70% of the company's stock.