Southside Bancshares (NASDAQ:SBSI) Director Herbert Buie Acquires 1,807 Shares

Southside Bancshares, Inc. (NASDAQ:SBSI) Director Herbert Buie purchased 1,807 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was purchased at an average cost of $30.68 per share, with a total value of $55,438.76. Following the completion of the acquisition, the director owned 389,288 shares in the company, valued at approximately $11,943,355.84. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Southside Bancshares Price Performance

Shares of Southside Bancshares stock traded up $0.15 during trading on Friday, hitting $30.60. The stock had a trading volume of 91,353 shares, compared to its average volume of 123,780. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a 12 month low of $25.85 and a 12 month high of $35.99. The firm has a market cap of $919.99 million, a price-to-earnings ratio of 10.52 and a beta of 0.65. The business’s 50-day moving average is $28.47 and its 200 day moving average is $29.29.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Thursday, November 20th. Southside Bancshares’s dividend payout ratio (DPR) is 62.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBSI. Stephens restated an “equal weight” rating and issued a $36.00 price objective on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods decreased their price target on shares of Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, October 27th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Southside Bancshares has an average rating of “Hold” and an average price target of $33.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SBSI. Dynamic Technology Lab Private Ltd bought a new stake in shares of Southside Bancshares during the 1st quarter valued at $537,000. Hantz Financial Services Inc. increased its position in shares of Southside Bancshares by 2,858.8% during the second quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,944 shares in the last quarter. Enclave Advisors LLC bought a new stake in shares of Southside Bancshares in the 2nd quarter worth $632,000. Voya Investment Management LLC raised its position in Southside Bancshares by 44.5% in the 1st quarter. Voya Investment Management LLC now owns 46,004 shares of the bank’s stock worth $1,332,000 after buying an additional 14,164 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Southside Bancshares during the second quarter valued at approximately $789,000. 55.70% of the stock is owned by institutional investors.

About Southside Bancshares

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposits.