Southside Bancshares (NASDAQ:SBSI) Sets New 12-Month Low – Time to Sell?

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.30 and last traded at $26.91, with a volume of 663 shares changing hands. The stock had previously closed at $26.94.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating on the stock. Stephens cut their target price on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Southside Bancshares Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $820.38 million, a PE ratio of 9.28 and a beta of 0.58. The stock’s 50 day simple moving average is $30.25 and its 200 day simple moving average is $32.30.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Thursday, February 20th. Southside Bancshares’s payout ratio is currently 49.48%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sterling Capital Management LLC raised its position in Southside Bancshares by 867.4% in the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock worth $29,000 after purchasing an additional 824 shares during the period. GAMMA Investing LLC lifted its position in Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after purchasing an additional 507 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Southside Bancshares in the third quarter worth $83,000. Lazard Asset Management LLC bought a new stake in Southside Bancshares during the 4th quarter valued at $103,000. Finally, FMR LLC grew its holdings in Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after acquiring an additional 2,382 shares during the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

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.