Southside Bancshares (NASDAQ:SBSI) Shares Up 5.9%

Southside Bancshares, Inc. (NASDAQ:SBSI) shot up 5.9% during trading on Monday . The company traded as high as $30.43 and last traded at $30.19. 88,289 shares were traded during mid-day trading, a decline of 34% from the average session volume of 133,874 shares. The stock had previously closed at $28.52.

Southside Bancshares Price Performance

The stock’s fifty day moving average price is $30.38 and its 200-day moving average price is $29.58. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $898.12 million, a price-to-earnings ratio of 10.67 and a beta of 0.53.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Friday, January 26th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.10). The company had revenue of $68.50 million for the quarter, compared to analysts’ expectations of $64.82 million. Southside Bancshares had a net margin of 21.92% and a return on equity of 11.59%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Equities research analysts predict that Southside Bancshares, Inc. will post 2.86 EPS for the current fiscal year.

Southside Bancshares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.85%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio is 51.25%.

Insiders Place Their Bets

In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total value of $450,932.19. Following the completion of the sale, the chief executive officer now directly owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Herbert C. Buie bought 1,990 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average cost of $32.52 per share, for a total transaction of $64,714.80. Following the purchase, the director now directly owns 407,501 shares in the company, valued at $13,251,932.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lee R. Gibson sold 14,897 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the transaction, the chief executive officer now owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds have recently made changes to their positions in SBSI. Point72 Asset Management L.P. bought a new stake in Southside Bancshares during the 2nd quarter worth about $38,000. Point72 Middle East FZE bought a new stake in Southside Bancshares during the 2nd quarter worth about $48,000. Tower Research Capital LLC TRC grew its holdings in Southside Bancshares by 305.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,944 shares of the bank’s stock worth $56,000 after acquiring an additional 1,465 shares during the last quarter. Quantbot Technologies LP bought a new stake in Southside Bancshares during the 2nd quarter worth about $105,000. Finally, Denali Advisors LLC bought a new stake in Southside Bancshares during the 3rd quarter worth about $135,000. Institutional investors and hedge funds own 57.48% 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 deposit.