Southside Bancshares, Inc. (NYSE:SBSI) Receives Average Rating of “Hold” from Analysts

Southside Bancshares, Inc. (NYSE:SBSI) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $35.00.

A number of analysts have recently issued reports on SBSI shares. Weiss Ratings upgraded Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Piper Sandler assumed coverage on Southside Bancshares in a research report on Wednesday, April 15th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Benchmark assumed coverage on shares of Southside Bancshares in a research note on Wednesday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Southside Bancshares

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Southside Bancshares by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,031,944 shares of the company’s stock valued at $61,751,000 after buying an additional 31,575 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Southside Bancshares by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,384,745 shares of the company’s stock valued at $43,051,000 after buying an additional 7,496 shares in the last quarter. State Street Corp raised its stake in shares of Southside Bancshares by 0.6% in the 4th quarter. State Street Corp now owns 1,308,609 shares of the company’s stock valued at $39,769,000 after buying an additional 7,706 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Southside Bancshares by 10.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 405,877 shares of the company’s stock valued at $12,335,000 after buying an additional 37,253 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Southside Bancshares by 11.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 351,713 shares of the company’s stock valued at $10,689,000 after buying an additional 36,675 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Price Performance

Shares of Southside Bancshares stock opened at $35.05 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74. Southside Bancshares has a fifty-two week low of $26.32 and a fifty-two week high of $35.38. The firm has a fifty day moving average price of $33.16 and a two-hundred day moving average price of $32.26. The company has a market cap of $1.04 billion, a PE ratio of 14.85 and a beta of 0.58.

Southside Bancshares (NYSE:SBSI) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $70.29 million during the quarter, compared to the consensus estimate of $70.92 million. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. Analysts expect that Southside Bancshares will post 3.43 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.36 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.1%. Southside Bancshares’s dividend payout ratio is currently 61.02%.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.