Southside Bancshares, Inc. (NYSE:SBSI) Receives $35.00 Average Target Price from Brokerages

Shares of Southside Bancshares, Inc. (NYSE:SBSI) have been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $35.00.

A number of equities analysts recently commented on the company. Piper Sandler assumed coverage on Southside Bancshares in a report on Wednesday. They issued a “neutral” rating and a $35.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Southside Bancshares from $31.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Southside Bancshares in a research note on Friday, March 27th. Hovde Group raised their price target on shares of Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Finally, Wall Street Zen raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th.

Institutional Investors Weigh In On Southside Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Southside Bancshares by 1,083.8% during the second quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company’s stock valued at $28,000 after purchasing an additional 867 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $45,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Southside Bancshares in the third quarter worth $45,000. GAMMA Investing LLC boosted its holdings in shares of Southside Bancshares by 26.6% during the 4th quarter. GAMMA Investing LLC now owns 1,809 shares of the company’s stock worth $55,000 after buying an additional 380 shares during the period. Finally, Pacifica Partners Inc. bought a new stake in shares of Southside Bancshares during the 3rd quarter worth $56,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Southside Bancshares Stock Performance

Shares of NYSE SBSI opened at $33.38 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. Southside Bancshares has a one year low of $26.32 and a one year high of $34.37. The business’s 50-day moving average price is $31.68 and its two-hundred day moving average price is $30.67. The company has a market capitalization of $992.72 million, a P/E ratio of 14.58 and a beta of 0.59.

Southside Bancshares (NYSE:SBSI) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.10). The firm had revenue of $71.99 million for the quarter. Southside Bancshares had a return on equity of 10.72% and a net margin of 15.61%.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.3%. Southside Bancshares’s dividend payout ratio is currently 62.88%.

About Southside Bancshares

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.