Keefe, Bruyette & Woods Issues Positive Forecast for Southside Bancshares (NASDAQ:SBSI) Stock Price

Southside Bancshares (NASDAQ:SBSI) had its price objective raised by Keefe, Bruyette & Woods from $31.00 to $35.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Separately, Hovde Group upped their target price on Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Southside Bancshares presently has a consensus rating of “Hold” and an average target price of $35.00.

Southside Bancshares Stock Up 3.2%

NASDAQ SBSI opened at $33.22 on Monday. The business’s 50-day moving average is $31.42 and its 200 day moving average is $30.05. The stock has a market capitalization of $998.82 million, a PE ratio of 11.42 and a beta of 0.64. 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 has a 1 year low of $25.85 and a 1 year high of $33.96.

Southside Bancshares Dividend Announcement

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. This represents a $1.44 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Thursday, November 20th. Southside Bancshares’s dividend payout ratio (DPR) is presently 62.88%.

Insider Transactions at Southside Bancshares

In related news, Director Herbert C. Buie purchased 1,807 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were bought 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 approximately $11,943,355.84. This represents a 0.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Southside Bancshares

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in Southside Bancshares by 1,083.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock valued at $28,000 after purchasing an additional 867 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Southside Bancshares during the third quarter valued at approximately $45,000. GAMMA Investing LLC increased its position in shares of Southside Bancshares by 26.6% during the fourth quarter. GAMMA Investing LLC now owns 1,809 shares of the bank’s stock valued at $55,000 after acquiring an additional 380 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Southside Bancshares in the 3rd quarter worth approximately $56,000. Finally, Hantz Financial Services Inc. raised its holdings in Southside Bancshares by 2,858.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock worth $59,000 after acquiring an additional 1,944 shares during the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

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.