Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Tim Carter Sells 7,000 Shares
Southside Bancshares, Inc. (NASDAQ:SBSI) insider Tim Carter sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.95, for a total value of $237,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Tim Carter also recently made the following trade(s):
- On Thursday, June 15th, Tim Carter sold 5,000 shares of Southside Bancshares stock. The shares were sold at an average price of $34.76, for a total value of $173,800.00.
Southside Bancshares, Inc. (NASDAQ:SBSI) traded down 1.61% during trading on Wednesday, reaching $33.55. The company’s stock had a trading volume of 96,368 shares. The firm has a 50-day moving average price of $34.86 and a 200-day moving average price of $33.95. The firm has a market capitalization of $984.46 million, a P/E ratio of 17.67 and a beta of 0.78. Southside Bancshares, Inc. has a 52 week low of $29.96 and a 52 week high of $38.08.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company had revenue of $44.72 million during the quarter, compared to the consensus estimate of $50.40 million. Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. On average, equities analysts anticipate that Southside Bancshares, Inc. will post $2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.28%. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. Southside Bancshares’s dividend payout ratio is currently 57.52%.
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Several equities analysts recently weighed in on SBSI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a research note on Friday, April 28th. BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Zacks Investment Research raised Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research report on Tuesday, May 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Southside Bancshares during the first quarter valued at about $102,000. US Bancorp DE boosted its position in Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after buying an additional 1,303 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after buying an additional 576 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Southside Bancshares by 85.3% in the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock valued at $189,000 after buying an additional 2,498 shares in the last quarter. Finally, Pitcairn Co. bought a new position in Southside Bancshares during the second quarter valued at about $207,000. 51.41% of the stock is currently owned by institutional investors.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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