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

Southside Bancshares, Inc. (NYSE:SBSI) has been given a consensus rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.00.

A number of analysts recently weighed in on SBSI shares. Benchmark began coverage on shares of Southside Bancshares in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Weiss Ratings upgraded shares of Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Piper Sandler assumed coverage on shares of Southside Bancshares in a research note on Wednesday, April 15th. They set a “neutral” rating and a $35.00 price target for the company.

Southside Bancshares Stock Performance

SBSI opened at $34.10 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 13.42 and a beta of 0.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. Southside Bancshares has a 1 year low of $26.32 and a 1 year high of $36.20. The stock’s 50 day simple moving average is $33.87 and its 200-day simple moving average is $32.72.

Southside Bancshares (NYSE:SBSI) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. Southside Bancshares had a net margin of 16.70% and a return on equity of 11.16%. The firm had revenue of $71.34 million for the quarter, compared to analyst estimates of $75.00 million. Sell-side analysts forecast that Southside Bancshares will post 3.43 EPS for the current year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.2%. Southside Bancshares’s dividend payout ratio is presently 61.02%.

Institutional Trading of Southside Bancshares

Several institutional investors have recently bought and sold shares of SBSI. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Southside Bancshares in the 4th quarter valued at $465,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Southside Bancshares during the 4th quarter worth about $1,260,000. Vanguard Group Inc. lifted its holdings in Southside Bancshares by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,031,944 shares of the company’s stock valued at $61,751,000 after purchasing an additional 31,575 shares during the last quarter. Bayview Asset Management LLC lifted its holdings in Southside Bancshares by 48.6% during the 4th quarter. Bayview Asset Management LLC now owns 85,457 shares of the company’s stock valued at $2,597,000 after purchasing an additional 27,957 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Southside Bancshares by 6,762.2% in the fourth quarter. Larson Financial Group LLC now owns 5,078 shares of the company’s stock valued at $154,000 after buying an additional 5,004 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Company Profile

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.