Southside Bancshares (NASDAQ:SBSI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Other research analysts have also issued research reports about the company. Stephens lowered their price target on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Raymond James initiated coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They set a “market perform” rating on the stock.

Southside Bancshares Trading Up 1.6 %

Southside Bancshares stock opened at $27.34 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $29.36 and a 200-day moving average of $31.91. The company has a market cap of $830.71 million, a price-to-earnings ratio of 9.39 and a beta of 0.58. Southside Bancshares has a one year low of $25.30 and a one year high of $38.00.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were given a $0.36 dividend. The ex-dividend date was Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.27%. Southside Bancshares’s payout ratio is 49.48%.

Institutional Investors Weigh In On Southside Bancshares

A number of large investors have recently added to or reduced their stakes in SBSI. FMR LLC increased its holdings in shares of Southside Bancshares by 226.9% in the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after purchasing an additional 2,382 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock worth $1,791,000 after buying an additional 29,163 shares during the period. Barclays PLC grew its stake in Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock valued at $1,981,000 after buying an additional 34,316 shares during the last quarter. Geode Capital Management LLC raised its holdings in Southside Bancshares by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock valued at $22,458,000 after acquiring an additional 3,097 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Southside Bancshares during the third quarter worth approximately $511,000. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Company Profile

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.