StockNews.com cut shares of Southside Bancshares (NASDAQ:SBSI - Free Report) from a hold rating to a sell rating in a report released on Monday morning.
Several other equities analysts also recently commented on SBSI. Raymond James started coverage on Southside Bancshares in a research report on Tuesday, January 14th. They issued a "market perform" rating on the stock. Stephens decreased their price objective on Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday, January 30th.
Read Our Latest Stock Report on Southside Bancshares
Southside Bancshares Stock Performance
Shares of SBSI stock traded up $0.06 during midday trading on Monday, hitting $26.55. 158,306 shares of the company were exchanged, compared to its average volume of 114,977. Southside Bancshares has a 52 week low of $25.30 and a 52 week high of $38.00. The firm has a market capitalization of $806.85 million, a P/E ratio of 9.12 and a beta of 0.58. The firm's 50 day moving average price is $29.57 and its two-hundred day moving average price is $31.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76.
Southside Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 5.42%. Southside Bancshares's dividend payout ratio is presently 49.48%.
Institutional Investors Weigh In On Southside Bancshares
A number of large investors have recently added to or reduced their stakes in SBSI. Invesco Ltd. lifted its position in shares of Southside Bancshares by 139.9% during the 4th quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock valued at $9,296,000 after acquiring an additional 170,685 shares during the period. JPMorgan Chase & Co. raised its stake in Southside Bancshares by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock valued at $12,876,000 after purchasing an additional 170,287 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Southside Bancshares by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank's stock worth $41,921,000 after purchasing an additional 49,565 shares during the period. GAMMA Investing LLC grew its stake in Southside Bancshares by 2,583.7% during the first quarter. GAMMA Investing LLC now owns 35,881 shares of the bank's stock worth $1,039,000 after buying an additional 34,544 shares in the last quarter. Finally, Barclays PLC increased its holdings in Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank's stock valued at $1,981,000 after buying an additional 34,316 shares during the period. Institutional investors and hedge funds own 55.70% of the company's stock.
About Southside Bancshares
(
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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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