Southside Bancshares (NASDAQ:SBSI) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Southside Bancshares, Inc. (NASDAQ:SBSI)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.87 and traded as high as $31.55. Southside Bancshares shares last traded at $31.4750, with a volume of 83,686 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBSI. Keefe, Bruyette & Woods decreased their target price on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, October 27th. Stephens reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Southside Bancshares in a research report on Friday, September 19th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.50.

Southside Bancshares Price Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average of $30.30 and a 200-day moving average of $29.87. The firm has a market capitalization of $946.33 million, a P/E ratio of 10.82 and a beta of 0.64.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors 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 is 62.61%.

Insiders Place Their Bets

In other Southside Bancshares news, Director Herbert C. Buie acquired 1,807 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was acquired at an average price of $30.68 per share, for a total transaction of $55,438.76. Following the purchase, the director directly owned 389,288 shares of the company’s stock, valued at $11,943,355.84. This trade represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in SBSI. Dimensional Fund Advisors LP grew its position in Southside Bancshares by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,382,523 shares of the bank’s stock worth $39,056,000 after buying an additional 5,237 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Southside Bancshares by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 689,791 shares of the bank’s stock valued at $20,301,000 after acquiring an additional 5,975 shares during the period. American Century Companies Inc. grew its holdings in shares of Southside Bancshares by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 352,786 shares of the bank’s stock worth $10,382,000 after purchasing an additional 45,598 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Southside Bancshares by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 291,402 shares of the bank’s stock worth $8,576,000 after purchasing an additional 4,055 shares during the period. Finally, Invesco Ltd. raised its stake in Southside Bancshares by 16.9% in the second quarter. Invesco Ltd. now owns 290,213 shares of the bank’s stock valued at $8,541,000 after purchasing an additional 42,057 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

About Southside Bancshares

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.