Insider Selling: Southside Bancshares, Inc. (SBSI) COO Sells $49,500.00 in Stock
Southside Bancshares, Inc. (NASDAQ:SBSI) COO Brian K. Mccabe sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the completion of the sale, the chief operating officer now owns 16,658 shares of the company’s stock, valued at $549,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Southside Bancshares, Inc. (SBSI) traded down 0.03% during mid-day trading on Friday, reaching $32.95. The company had a trading volume of 256,911 shares. Southside Bancshares, Inc. has a 52-week low of $30.47 and a 52-week high of $38.08. The firm’s 50-day moving average price is $33.11 and its 200 day moving average price is $33.58. The company has a market cap of $966.85 million, a price-to-earnings ratio of 17.35 and a beta of 0.78.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. The firm had revenue of $44.72 million during the quarter, compared to analyst estimates of $50.40 million. Equities analysts expect that Southside Bancshares, Inc. will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Tuesday, August 15th. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. Southside Bancshares’s dividend payout ratio is presently 59.11%.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Texas Permanent School Fund increased its holdings in Southside Bancshares by 0.4% in the 1st quarter. Texas Permanent School Fund now owns 19,204 shares of the bank’s stock worth $645,000 after purchasing an additional 85 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Southside Bancshares by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock worth $225,000 after purchasing an additional 158 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Southside Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 7,116 shares of the bank’s stock worth $249,000 after purchasing an additional 174 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Southside Bancshares by 2.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 8,754 shares of the bank’s stock worth $306,000 after purchasing an additional 213 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Southside Bancshares by 2.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,607 shares of the bank’s stock worth $371,000 after purchasing an additional 257 shares in the last quarter. 51.45% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on SBSI. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 target price on shares of Southside Bancshares in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, BidaskClub lowered Southside Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.
About Southside Bancshares
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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