Southside Bancshares (NASDAQ:SBSI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Southside Bancshares, Inc. (NASDAQ:SBSI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.73 and traded as high as $30.50. Southside Bancshares shares last traded at $30.4440, with a volume of 103,883 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on SBSI shares. Stephens reissued an “equal weight” rating and set a $36.00 price target on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods decreased their price objective on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating on the stock in a research note on Monday, October 27th. Three equities research 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 target price of $33.50.

Southside Bancshares Stock Performance

The firm has a market cap of $915.33 million, a PE ratio of 10.46 and a beta of 0.65. The stock has a 50-day moving average price of $29.94 and a 200 day moving average price of $29.75. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.7%. Southside Bancshares’s dividend payout ratio (DPR) is currently 62.61%.

Insiders Place Their Bets

In related news, Director Herbert C. Buie purchased 1,807 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were bought at an average price of $30.68 per share, with a total value of $55,438.76. Following the completion of the purchase, the director directly owned 389,288 shares in the company, valued at approximately $11,943,355.84. This trade represents a 0.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Ieq Capital LLC purchased a new stake in Southside Bancshares during the first quarter valued at about $234,000. Trexquant Investment LP lifted its stake in shares of Southside Bancshares by 64.2% in the 1st quarter. Trexquant Investment LP now owns 24,096 shares of the bank’s stock valued at $698,000 after purchasing an additional 9,423 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Southside Bancshares during the 1st quarter worth about $386,000. Bridgeway Capital Management LLC increased its position in Southside Bancshares by 3.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 111,711 shares of the bank’s stock worth $3,235,000 after purchasing an additional 4,198 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Southside Bancshares by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the bank’s stock worth $494,000 after buying an additional 701 shares during the period. 55.70% of the stock is owned by hedge funds and other 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.