Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Sells $79,920.00 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) insider Suni M. Davis sold 2,220 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the sale, the insider now owns 9,202 shares in the company, valued at $331,272. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Southside Bancshares Price Performance

Southside Bancshares stock traded down $1.83 during midday trading on Thursday, hitting $35.39. The company's stock had a trading volume of 172,912 shares, compared to its average volume of 116,607. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $37.58. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $33.32 and its 200-day moving average price is $30.48. The company has a market capitalization of $1.07 billion, a PE ratio of 12.78 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.05). The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Analysts anticipate that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Hovde Group raised their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, July 29th. StockNews.com cut Southside Bancshares from a "hold" rating to a "sell" rating in a research report on Tuesday.

Institutional Investors Weigh In On Southside Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings 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 during the last quarter. CWM LLC increased its stake in 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 purchasing an additional 2,533 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank's stock worth $96,000 after buying an additional 1,195 shares during the period. Point72 Asset Management L.P. lifted its stake in Southside Bancshares by 48.3% during the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank's stock valued at $139,000 after buying 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 third quarter worth about $222,000. 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.