Southside Bancshares (NASDAQ:SBSI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Southside Bancshares, Inc. (NASDAQ:SBSI)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $30.22 and traded as high as $33.20. Southside Bancshares shares last traded at $33.1190, with a volume of 70,215 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SBSI. Keefe, Bruyette & Woods increased their price target on Southside Bancshares from $31.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Hovde Group raised their target price on shares of Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.00.

Southside Bancshares Price Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50 day simple moving average is $32.04 and its 200 day simple moving average is $30.22. The company has a market capitalization of $995.76 million, a PE ratio of 11.38 and a beta of 0.64.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.3%. The ex-dividend date is Thursday, February 19th. Southside Bancshares’s dividend payout ratio is currently 62.88%.

Insider Activity

In other news, Director Herbert C. Buie bought 1,807 shares of the business’s stock in a transaction dated 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 transaction, the director owned 389,288 shares of the company’s stock, valued at approximately $11,943,355.84. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Southside Bancshares

Several large investors have recently modified their holdings of SBSI. American Century Companies Inc. grew its position in 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 buying an additional 45,598 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Southside Bancshares by 2,858.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock worth $59,000 after acquiring an additional 1,944 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Southside Bancshares by 82.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 21,993 shares of the bank’s stock valued at $647,000 after acquiring an additional 9,946 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Southside Bancshares during the second quarter worth about $789,000. Finally, Geode Capital Management LLC raised its holdings in Southside Bancshares by 0.9% during the second quarter. Geode Capital Management LLC now owns 689,791 shares of the bank’s stock worth $20,301,000 after purchasing an additional 5,975 shares in the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

About Southside Bancshares

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.