Southside Bancshares (NASDAQ:SBSI) Given New $43.00 Price Target at Stephens

Southside Bancshares (NASDAQ:SBSIGet Rating) had its price target upped by Stephens to $43.00 in a report released on Tuesday morning, Stock Target Advisor reports.

Several other brokerages also recently issued reports on SBSI. Piper Sandler cut their target price on shares of Southside Bancshares to $41.00 in a research note on Monday, July 4th. StockNews.com started coverage on shares of Southside Bancshares in a research note on Thursday, March 31st. They issued a hold rating for the company.

Southside Bancshares Trading Up 2.8 %

Southside Bancshares stock opened at $39.64 on Tuesday. Southside Bancshares has a one year low of $34.52 and a one year high of $45.36. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.39 and a beta of 0.56. The firm has a 50-day moving average of $38.10 and a 200-day moving average of $40.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65.

Southside Bancshares (NASDAQ:SBSIGet Rating) last issued its earnings results on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Southside Bancshares had a net margin of 39.70% and a return on equity of 12.09%. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities analysts expect that Southside Bancshares will post 3.22 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th were issued a $0.34 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $1.36 annualized dividend and a yield of 3.43%. Southside Bancshares’s dividend payout ratio is currently 42.50%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBSI. Victory Capital Management Inc. raised its holdings in Southside Bancshares by 42.6% in the 1st quarter. Victory Capital Management Inc. now owns 303,558 shares of the bank’s stock valued at $11,896,000 after acquiring an additional 90,754 shares during the period. BlackRock Inc. raised its holdings in Southside Bancshares by 1.9% in the 1st quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock valued at $194,286,000 after acquiring an additional 88,082 shares during the period. Assenagon Asset Management S.A. bought a new position in Southside Bancshares in the 4th quarter valued at about $3,595,000. State Street Corp raised its holdings in Southside Bancshares by 4.1% in the 1st quarter. State Street Corp now owns 1,279,542 shares of the bank’s stock valued at $52,244,000 after acquiring an additional 50,056 shares during the period. Finally, Barclays PLC increased its holdings in shares of Southside Bancshares by 79.8% during the fourth quarter. Barclays PLC now owns 74,071 shares of the bank’s stock worth $3,097,000 after purchasing an additional 32,876 shares during the period. 51.25% of the stock is owned by institutional investors.

About Southside Bancshares

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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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