Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Sells $157,324.57 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the sale, the insider now owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Southside Bancshares Stock Performance

SBSI traded up $1.54 during trading on Friday, reaching $33.84. 134,600 shares of the company were exchanged, compared to its average volume of 120,393. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $36.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $29.91 and a 200 day moving average of $28.67. The stock has a market cap of $1.02 billion, a P/E ratio of 12.01 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.64 by $0.17. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. The business had revenue of $115.74 million during the quarter, compared to analyst estimates of $64.91 million. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.26%. Southside Bancshares’s payout ratio is currently 53.53%.

Wall Street Analysts Forecast Growth

SBSI has been the subject of several research reports. Hovde Group lifted their price target on shares of 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 upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds have recently made changes to their positions in SBSI. Renaissance Technologies LLC increased its holdings in shares of Southside Bancshares by 6.8% during the second quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock valued at $16,657,000 after purchasing an additional 38,500 shares during the period. Charles Schwab Investment Management Inc. grew its position in Southside Bancshares by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,825 shares of the bank’s stock valued at $11,395,000 after buying an additional 15,470 shares in the last quarter. ProShare Advisors LLC increased its stake in Southside Bancshares by 0.9% during the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after buying an additional 2,456 shares during the period. AQR Capital Management LLC raised its position in shares of Southside Bancshares by 95.8% during the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after buying an additional 116,473 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Southside Bancshares by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after acquiring an additional 1,984 shares during the period. Institutional investors own 55.70% of the company’s stock.

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 deposits.