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

Southside Bancshares, Inc. (NASDAQ:SBSI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

Southside Bancshares Trading Down 0.4%

The firm’s fifty day moving average price is $29.56 and its 200-day moving average price is $29.64. The company has a market cap of $939.56 million, a price-to-earnings ratio of 10.74 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a $0.36 dividend. 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 presently 62.61%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, Director Herbert C. Buie acquired 1,807 shares of Southside Bancshares stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost 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 in the company, valued at approximately $11,943,355.84. This represents a 0.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.00% of the company’s stock.

Institutional Trading of Southside Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Southside Bancshares by 388.2% during the 3rd quarter. Millennium Management LLC now owns 251,429 shares of the bank’s stock worth $7,103,000 after acquiring an additional 199,930 shares during the period. Nuveen LLC acquired a new position in shares of Southside Bancshares during the first quarter valued at $2,187,000. Jane Street Group LLC bought a new stake in shares of Southside Bancshares during the first quarter valued at about $1,520,000. Mackenzie Financial Corp acquired a new stake in Southside Bancshares in the third quarter worth about $1,339,000. Finally, 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 in the last quarter. Institutional investors own 55.70% of the company’s stock.

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.