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

Southside Bancshares, Inc. (NASDAQ:SBSI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.22 and traded as high as $33.20. Southside Bancshares shares last traded at $33.1190, with a volume of 70,215 shares traded.

Analyst Upgrades and Downgrades

SBSI has been the topic of several analyst reports. Hovde Group raised 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, February 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Southside Bancshares from $31.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, February 2nd. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.00.

Southside Bancshares Stock Up 0.4%

The firm has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $30.22. The company has a market capitalization of $995.76 million, a PE ratio of 11.38 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76.

Southside Bancshares Dividend Announcement

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

Insider Buying and Selling at Southside Bancshares

In related news, Director Herbert C. Buie bought 1,807 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were acquired at an average price of $30.68 per share, for a total transaction of $55,438.76. Following the purchase, the director owned 389,288 shares in the company, valued at $11,943,355.84. This trade represents a 0.47% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.00% of the company’s stock.

Institutional Trading of Southside Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Southside Bancshares by 1,083.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock worth $28,000 after buying an additional 867 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Southside Bancshares during the 4th quarter valued at approximately $45,000. CIBC Private Wealth Group LLC bought a new position in Southside Bancshares during the third quarter worth $45,000. GAMMA Investing LLC boosted its holdings in Southside Bancshares by 26.6% in the fourth quarter. GAMMA Investing LLC now owns 1,809 shares of the bank’s stock worth $55,000 after purchasing an additional 380 shares during the period. Finally, Pacifica Partners Inc. acquired a new position in Southside Bancshares in the third quarter worth $56,000. 55.70% of the stock is owned by 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.