Patricia Ann Callan Sells 4,000 Shares of Southside Bancshares Inc. (SBSI) Stock
Southside Bancshares Inc. (NASDAQ:SBSI) Director Patricia Ann Callan sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $34.85, for a total value of $139,400.00. Following the sale, the director now directly owns 2,883 shares in the company, valued at approximately $100,472.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Southside Bancshares Inc. (NASDAQ:SBSI) opened at 36.97 on Thursday. The firm has a 50-day moving average price of $33.07 and a 200 day moving average price of $31.52. The firm has a market cap of $971.79 million, a P/E ratio of 19.80 and a beta of 0.58. Southside Bancshares Inc. has a one year low of $19.54 and a one year high of $38.91.
Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Friday, October 28th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.05. Southside Bancshares had a net margin of 23.93% and a return on equity of 10.72%. On average, analysts forecast that Southside Bancshares Inc. will post $1.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, November 15th. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.24. Southside Bancshares’s payout ratio is currently 51.27%.
A number of equities research analysts recently weighed in on SBSI shares. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 22nd. Keefe, Bruyette & Woods raised their price target on Southside Bancshares from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, August 1st.
Several large investors have recently bought and sold shares of SBSI. Tributary Capital Management LLC increased its stake in Southside Bancshares by 7.3% in the third quarter. Tributary Capital Management LLC now owns 344,368 shares of the company’s stock valued at $11,082,000 after buying an additional 23,490 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Southside Bancshares during the third quarter valued at about $535,000. ProShare Advisors LLC increased its stake in Southside Bancshares by 44.6% in the third quarter. ProShare Advisors LLC now owns 94,040 shares of the company’s stock valued at $3,026,000 after buying an additional 29,003 shares in the last quarter. Morgan Stanley increased its stake in Southside Bancshares by 25.1% in the third quarter. Morgan Stanley now owns 25,374 shares of the company’s stock valued at $817,000 after buying an additional 5,087 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Southside Bancshares by 3.8% in the third quarter. Principal Financial Group Inc. now owns 178,099 shares of the company’s stock valued at $5,731,000 after buying an additional 6,522 shares in the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities.
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