Southside Bancshares, Inc. (NASDAQ:SBSI) Director Alton Cade, Jr. sold 2,950 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.31, for a total value of $104,164.50. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Southside Bancshares, Inc. (SBSI) traded down 0.03% during midday trading on Friday, reaching $34.93. The company’s stock had a trading volume of 88,946 shares. The company has a market capitalization of $1.02 billion, a P/E ratio of 19.10 and a beta of 0.78. The stock’s 50-day moving average is $33.78 and its 200-day moving average is $34.20. Southside Bancshares, Inc. has a one year low of $29.32 and a one year high of $38.08.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Friday, April 28th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $44.95 million for the quarter, compared to analysts’ expectations of $48.40 million. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. On average, equities analysts expect that Southside Bancshares, Inc. will post $2.14 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Southside Bancshares during the first quarter valued at about $102,000. US Bancorp DE boosted its stake in shares of Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after buying an additional 1,303 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after buying an additional 576 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Southside Bancshares by 85.3% in the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock worth $189,000 after buying an additional 2,498 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Southside Bancshares by 8.3% in the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock worth $208,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 50.98% of the company’s stock.
SBSI has been the subject of a number of research analyst reports. Zacks Investment Research lowered Southside Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 target price on shares of Southside Bancshares in a research report on Friday, April 28th. Finally, BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th.
About Southside Bancshares
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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