StockNews.com lowered shares of Southside Bancshares (NASDAQ:SBSI - Free Report) from a hold rating to a sell rating in a report issued on Monday morning.
SBSI has been the topic of several other reports. Raymond James assumed coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating on the stock. Stephens cut 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.
View Our Latest Analysis on Southside Bancshares
Southside Bancshares Trading Up 0.2 %
SBSI stock traded up $0.06 during midday trading on Monday, hitting $26.55. 158,306 shares of the company's stock were exchanged, compared to its average volume of 114,977. Southside Bancshares has a 1-year low of $25.30 and a 1-year high of $38.00. The business has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $31.98. The stock has a market capitalization of $806.85 million, a PE ratio of 9.12 and a beta of 0.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.
Southside Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 annualized dividend and a yield of 5.42%. Southside Bancshares's dividend payout ratio is presently 49.48%.
Institutional Trading of Southside Bancshares
Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC grew its stake in Southside Bancshares by 867.4% during the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after purchasing an additional 824 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after buying an additional 507 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Southside Bancshares during the third quarter worth about $83,000. Lazard Asset Management LLC purchased a new stake in shares of Southside Bancshares during the fourth quarter worth approximately $103,000. Finally, FMR LLC raised its holdings in Southside Bancshares by 226.9% in the third quarter. FMR LLC now owns 3,432 shares of the bank's stock valued at $115,000 after acquiring an additional 2,382 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.
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.
See Also
Before you consider Southside Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southside Bancshares wasn't on the list.
While Southside Bancshares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
