Southside Bancshares, Inc. (NASDAQ:SBSI) Insider Suni M. Davis Sells 2,220 Shares of Stock

Southside Bancshares, Inc. (NASDAQ:SBSI) insider Suni M. Davis sold 2,220 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the sale, the insider now directly owns 9,202 shares of the company’s stock, valued at $331,272. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Southside Bancshares Stock Performance

Shares of SBSI opened at $35.39 on Friday. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $37.58. The firm has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $30.48. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.78 and a beta of 0.55. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The firm had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same quarter in the prior year, the business earned $0.60 EPS. Research analysts forecast that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday. Hovde Group increased their target price on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Institutional Trading of Southside Bancshares

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of Southside Bancshares by 54.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after buying an additional 387 shares during the last quarter. CWM LLC lifted its stake in shares of Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after buying an additional 2,533 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after buying an additional 1,195 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Southside Bancshares by 48.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after buying an additional 1,643 shares during the last quarter. Finally, Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares during the 3rd quarter worth about $222,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

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.