Southside Bancshares, Inc. (NASDAQ:SBSI) CFO Sells $187,760.80 in Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) CFO Julie Shamburger sold 5,360 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the transaction, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at $852,174.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Southside Bancshares Price Performance

Shares of SBSI traded down $1.68 during trading hours on Thursday, hitting $33.31. 176,264 shares of the company were exchanged, compared to its average volume of 121,466. The firm has a fifty day simple moving average of $28.09 and a 200-day simple moving average of $28.54. The company has a market capitalization of $1.01 billion, a PE ratio of 12.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.77. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $36.10.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. The business had revenue of $115.74 million during the quarter, compared to analyst estimates of $64.91 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. During the same quarter last year, the company posted $0.82 EPS. As a group, sell-side analysts predict that Southside Bancshares, Inc. will post 2.7 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Wednesday, May 22nd. Southside Bancshares’s dividend payout ratio is 53.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBSI shares. Hovde Group raised their target price on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.

Hedge Funds Weigh In On Southside Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Southside Bancshares by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,825 shares of the bank’s stock valued at $11,395,000 after purchasing an additional 15,470 shares in the last quarter. ProShare Advisors LLC boosted its position in Southside Bancshares by 0.9% during the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock worth $7,781,000 after acquiring an additional 2,456 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Southside Bancshares by 43.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 91,332 shares of the bank’s stock valued at $2,861,000 after acquiring an additional 27,463 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Southside Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 4,900 shares during the period. Finally, Chatham Capital Group Inc. increased its holdings in shares of Southside Bancshares by 11.9% in the 1st quarter. Chatham Capital Group Inc. now owns 49,563 shares of the bank’s stock valued at $1,449,000 after purchasing an additional 5,275 shares during the period. 55.70% of the stock is currently owned by hedge funds and other 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 deposits.