Tim Carter Sells 5,000 Shares of Southside Bancshares Inc. (SBSI) Stock
Southside Bancshares Inc. (NASDAQ:SBSI) insider Tim Carter sold 5,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $37.39, for a total transaction of $186,950.00. Following the transaction, the insider now owns 45,407 shares in the company, valued at $1,697,767.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Southside Bancshares Inc. (NASDAQ:SBSI) opened at 36.97 on Thursday. The company has a market cap of $971.79 million, a PE 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. The stock has a 50 day moving average of $33.07 and a 200 day moving average of $31.52.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly 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 return on equity of 10.72% and a net margin of 23.93%. On average, analysts anticipate that Southside Bancshares Inc. will post $1.96 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date is Tuesday, November 15th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 2.70%. Southside Bancshares’s payout ratio is currently 51.27%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBSI. Prudential Financial Inc. boosted its position in Southside Bancshares by 2.9% in the first quarter. Prudential Financial Inc. now owns 56,803 shares of the company’s stock worth $1,481,000 after buying an additional 1,600 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in Southside Bancshares by 5.6% in the second quarter. Commonwealth Equity Services Inc now owns 17,669 shares of the company’s stock worth $546,000 after buying an additional 940 shares in the last quarter. Principal Financial Group Inc. boosted its position in Southside Bancshares by 7.9% in the second quarter. Principal Financial Group Inc. now owns 171,577 shares of the company’s stock worth $5,305,000 after buying an additional 12,513 shares in the last quarter. BlackRock Group LTD boosted its position in Southside Bancshares by 19.6% in the first quarter. BlackRock Group LTD now owns 30,776 shares of the company’s stock worth $802,000 after buying an additional 5,054 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Southside Bancshares by 5.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,942 shares of the company’s stock worth $215,000 after buying an additional 331 shares in the last quarter. 43.00% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on SBSI. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 31st. Keefe, Bruyette & Woods raised their target price on shares of Southside Bancshares from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, August 1st.
About Southside Bancshares
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.
Receive News & Stock Ratings for Southside Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares Inc. and related stocks with our FREE daily email newsletter.