Southside Bancshares, Inc. (NASDAQ:SBSI) has received an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Analysts have set a 12 month consensus price objective of $33.50 for the company and are predicting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 89 out of 256 based on the ratings given to its competitors.
Several brokerages have issued reports on SBSI. BidaskClub lowered Southside Bancshares from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, April 4th.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The company had revenue of $53.05 million for the quarter, compared to analysts’ expectations of $54.48 million. During the same period last year, the firm earned $0.46 earnings per share. Southside Bancshares’s quarterly revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Southside Bancshares will post 2.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.30. Southside Bancshares’s dividend payout ratio (DPR) is currently 58.77%.
In related news, Director Tony K. Morgan purchased 1,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average price of $33.01 per share, with a total value of $33,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 1,127 shares of company stock worth $37,429. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBSI. BlackRock Inc. grew its stake in shares of Southside Bancshares by 2.7% in the fourth quarter. BlackRock Inc. now owns 4,878,860 shares of the bank’s stock worth $154,903,000 after acquiring an additional 130,535 shares during the last quarter. Vanguard Group Inc. grew its holdings in Southside Bancshares by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,744,152 shares of the bank’s stock valued at $60,696,000 after buying an additional 54,827 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Southside Bancshares by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,631,651 shares of the bank’s stock valued at $51,805,000 after buying an additional 67,337 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Southside Bancshares by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,290,610 shares of the bank’s stock valued at $42,887,000 after buying an additional 17,100 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Southside Bancshares by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 407,729 shares of the bank’s stock valued at $13,548,000 after buying an additional 18,191 shares in the last quarter. 53.35% of the stock is currently owned by hedge funds and other institutional investors.
About Southside Bancshares
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.
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