Southside Bancshares (NASDAQ:SBSI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Southside Bancshares, Inc. (NASDAQ:SBSI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.64 and traded as high as $31.52. Southside Bancshares shares last traded at $31.25, with a volume of 55,074 shares changing hands.

Analyst Ratings Changes

SBSI has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Monday, October 27th. Stephens reaffirmed an “equal weight” rating and set a $36.00 price target on shares of Southside Bancshares in a research report on Friday, September 19th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.50.

Southside Bancshares Stock Down 0.4%

The firm has a market capitalization of $939.56 million, a PE ratio of 10.74 and a beta of 0.65. The firm’s 50 day moving average price is $29.56 and its two-hundred day moving average price is $29.64. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, November 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.6%. Southside Bancshares’s dividend payout ratio (DPR) is currently 62.61%.

Insider Activity

In other Southside Bancshares news, Director Herbert C. Buie purchased 1,807 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were acquired at an average price of $30.68 per share, for a total transaction of $55,438.76. Following the completion of the purchase, the director owned 389,288 shares in the company, valued at $11,943,355.84. The trade was a 0.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Southside Bancshares

A number of institutional investors have recently made changes to their positions in SBSI. Dynamic Technology Lab Private Ltd acquired a new stake in Southside Bancshares during the first quarter valued at approximately $537,000. American Century Companies Inc. increased its holdings in shares of Southside Bancshares by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 352,786 shares of the bank’s stock valued at $10,382,000 after acquiring an additional 45,598 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Southside Bancshares by 2,858.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,944 shares in the last quarter. Enclave Advisors LLC acquired a new stake in shares of Southside Bancshares during the 2nd quarter valued at approximately $632,000. Finally, Voya Investment Management LLC lifted its stake in Southside Bancshares by 44.5% during the first quarter. Voya Investment Management LLC now owns 46,004 shares of the bank’s stock worth $1,332,000 after purchasing an additional 14,164 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.