BidaskClub lowered shares of Southside Bancshares (NASDAQ:SBSI) from a hold rating to a sell rating in a research note released on Friday morning.

Separately, Zacks Investment Research raised shares of Southside Bancshares from a sell rating to a hold rating in a report on Tuesday, January 1st.

Shares of SBSI opened at $31.75 on Friday. Southside Bancshares has a 1 year low of $29.28 and a 1 year high of $37.32. The firm has a market cap of $1.07 billion, a PE ratio of 15.05 and a beta of 0.78. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Friday, February 1st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.08). Southside Bancshares had a net margin of 27.47% and a return on equity of 9.94%. The firm had revenue of $52.54 million for the quarter, compared to analyst estimates of $55.50 million. During the same period last year, the firm posted $0.33 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, analysts anticipate that Southside Bancshares will post 2.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Wednesday, February 20th. Southside Bancshares’s dividend payout ratio (DPR) is 56.87%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Southside Bancshares by 14.9% during the third quarter. BlackRock Inc. now owns 4,748,325 shares of the bank’s stock valued at $165,242,000 after purchasing an additional 615,584 shares in the last quarter. Walthausen & Co. LLC bought a new stake in shares of Southside Bancshares during the third quarter valued at about $11,221,000. Renaissance Technologies LLC raised its stake in shares of Southside Bancshares by 11.9% during the third quarter. Renaissance Technologies LLC now owns 1,188,710 shares of the bank’s stock valued at $41,367,000 after purchasing an additional 126,300 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Southside Bancshares by 20.0% during the fourth quarter. Handelsbanken Fonder AB now owns 719,787 shares of the bank’s stock valued at $22,853,000 after purchasing an additional 119,787 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Southside Bancshares by 369.6% during the fourth quarter. Creative Planning now owns 96,301 shares of the bank’s stock valued at $3,058,000 after purchasing an additional 75,796 shares in the last quarter. 51.91% of the stock is owned by institutional investors.

Southside Bancshares Company Profile

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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