Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report)'s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $33.56, but opened at $32.22. Southside Bancshares shares last traded at $31.84, with a volume of 9,846 shares traded.
The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the previous year, the company earned $0.60 EPS.
Southside Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.40%. Southside Bancshares's payout ratio is currently 53.53%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Hovde Group raised their target price on Southside Bancshares from $31.00 to $37.00 and gave the company a "market perform" rating in a report on Monday, July 29th. StockNews.com downgraded Southside Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, October 10th.
View Our Latest Stock Analysis on Southside Bancshares
Insider Buying and Selling at Southside Bancshares
In other Southside Bancshares news, insider Jared C. Green sold 864 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the sale, the insider now owns 4,358 shares in the company, valued at $144,990.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the sale, the insider now owns 16,441 shares in the company, valued at $520,028.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jared C. Green sold 864 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total value of $28,745.28. Following the sale, the insider now owns 4,358 shares of the company's stock, valued at approximately $144,990.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,890 shares of company stock worth $500,319 in the last 90 days. 5.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in SBSI. Nisa Investment Advisors LLC grew its position in shares of Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank's stock worth $30,000 after acquiring an additional 387 shares in the last quarter. CWM LLC grew its position in shares of Southside Bancshares by 447.5% in the 2nd quarter. CWM LLC now owns 3,099 shares of the bank's stock worth $86,000 after acquiring an additional 2,533 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Southside Bancshares by 57.0% in the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank's stock worth $96,000 after acquiring an additional 1,195 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Southside Bancshares by 48.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank's stock worth $139,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Bill Few Associates Inc. acquired a new position in shares of Southside Bancshares in the 3rd quarter worth approximately $222,000. Institutional investors and hedge funds own 55.70% of the company's stock.
Southside Bancshares Trading Down 2.4 %
The company has a market cap of $991.34 million, a price-to-earnings ratio of 12.17 and a beta of 0.54. The firm has a 50-day moving average price of $33.28 and a 200 day moving average price of $30.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.
About Southside Bancshares
(
Get Free Report)
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.
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