Southside Bancshares (NYSE:SBSI) Stock: Insider April Pinkley Sells 6,724 Shares

Southside Bancshares, Inc. (NYSE:SBSI) CAO April Pinkley sold 6,724 shares of Southside Bancshares stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $36.00, for a total transaction of $242,064.00. Following the completion of the sale, the chief accounting officer directly owned 4,393 shares of the company’s stock, valued at $158,148. The trade was a 60.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Southside Bancshares Trading Down 0.9%

Shares of SBSI opened at $34.05 on Friday. Southside Bancshares, Inc. has a fifty-two week low of $28.04 and a fifty-two week high of $36.35. The company has a market capitalization of $1.01 billion, a PE ratio of 10.29 and a beta of 0.57. The stock has a fifty day moving average of $31.67 and a two-hundred day moving average of $32.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.78 and a current ratio of 0.78.

Southside Bancshares (NYSE:SBSI) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The business had revenue of $76.14 million during the quarter, compared to the consensus estimate of $72.67 million. Southside Bancshares had a return on equity of 11.58% and a net margin of 21.48%. As a group, analysts forecast that Southside Bancshares, Inc. will post 3.45 EPS for the current year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Wednesday, November 25th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.48 annualized dividend and a yield of 4.3%. Southside Bancshares’s payout ratio is 44.71%.

Hedge Funds Weigh In On Southside Bancshares

A number of large investors have recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in shares of Southside Bancshares during the 3rd quarter worth about $30,000. Public Employees Retirement System of Ohio purchased a new position in Southside Bancshares in the second quarter valued at approximately $62,000. Integrated Wealth Concepts LLC acquired a new position in Southside Bancshares during the second quarter valued at approximately $77,000. Nisa Investment Advisors LLC lifted its position in Southside Bancshares by 14.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $82,000 after buying an additional 341 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Southside Bancshares by 55.4% during the third quarter. Farther Finance Advisors LLC now owns 3,004 shares of the company’s stock worth $90,000 after buying an additional 1,071 shares during the period. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SBSI shares. Zacks Research raised shares of Southside Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Piper Sandler dropped their price target on shares of Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Stephens set a $37.00 price target on shares of Southside Bancshares in a report on Monday, July 27th. Keefe, Bruyette & Woods lowered their price objective on shares of Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Southside Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $34.75.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a Texas-based financial holding company and the parent company of Southside Bank. Founded in 1960 and headquartered in Tyler, Texas, the company provides banking and financial services to individuals, businesses, and institutions.

Southside Bank offers a range of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans, and other forms of business credit.

The bank also provides treasury management, online and mobile banking, wealth management, trust and fiduciary services, and other financial solutions.