Southside Bancshares, Inc. (NASDAQ:SBSI) has received an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.

Brokers have set a 12 month consensus price objective of $30.67 for the company and are forecasting that the company will post $0.42 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 228 out of 254 based on the ratings given to related companies.

A number of research analysts have commented on the company. Zacks Investment Research raised Southside Bancshares from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Saturday. SunTrust Banks reduced their target price on Southside Bancshares from $32.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Finally, BidaskClub downgraded Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 3rd.

In related news, insider John Robert Garrett purchased 1,167 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $25.98 per share, for a total transaction of $30,318.66. Following the transaction, the insider now owns 15,850 shares of the company’s stock, valued at $411,783. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in Southside Bancshares by 174.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 763 shares of the bank’s stock valued at $28,000 after acquiring an additional 485 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Southside Bancshares by 29.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,870 shares of the bank’s stock valued at $87,000 after acquiring an additional 654 shares during the period. SG Americas Securities LLC acquired a new stake in Southside Bancshares in the 4th quarter valued at approximately $121,000. Acadian Asset Management LLC increased its position in Southside Bancshares by 61.3% in the 1st quarter. Acadian Asset Management LLC now owns 6,454 shares of the bank’s stock valued at $196,000 after acquiring an additional 2,453 shares during the period. Finally, Amalgamated Bank acquired a new stake in Southside Bancshares in the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 54.09% of the company’s stock.

SBSI traded up $0.03 on Thursday, reaching $27.81. The company’s stock had a trading volume of 435,980 shares, compared to its average volume of 141,280. The stock has a market cap of $918.06 million, a price-to-earnings ratio of 15.62 and a beta of 0.53. Southside Bancshares has a 1 year low of $23.74 and a 1 year high of $37.89. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50 day moving average is $28.41 and its 200 day moving average is $32.26.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Tuesday, May 5th. The bank reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.36). Southside Bancshares had a net margin of 20.52% and a return on equity of 7.56%. The business had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $54.87 million. During the same period in the prior year, the company posted $0.56 EPS. As a group, research analysts forecast that Southside Bancshares will post 1.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Wednesday, May 20th. Southside Bancshares’s payout ratio is 56.36%.

About Southside Bancshares

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 deposit.

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