Southside Bancshares, Inc. (NASDAQ:SBSI) CEO Lee R. Gibson Sells 3,300 Shares

Southside Bancshares, Inc. (NASDAQ:SBSI) CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the sale, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at $2,104,173.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Southside Bancshares Trading Down 4.9 %

SBSI stock opened at $35.39 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 12.78 and a beta of 0.55. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $37.58. The business’s 50 day moving average is $33.32 and its 200-day moving average is $30.48. 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 released 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). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The business had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. During the same quarter last year, the company earned $0.60 earnings per share. Equities analysts anticipate that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBSI. AQR Capital Management LLC lifted its holdings in Southside Bancshares by 95.8% during the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after buying an additional 116,473 shares in the last quarter. Marshall Wace LLP acquired a new position in Southside Bancshares during the 2nd quarter worth $1,109,000. Renaissance Technologies LLC lifted its holdings in Southside Bancshares by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock worth $16,657,000 after buying an additional 38,500 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Southside Bancshares by 73.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock worth $1,999,000 after buying an additional 25,350 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Southside Bancshares by 835.1% during the 2nd quarter. Quest Partners LLC now owns 23,826 shares of the bank’s stock worth $658,000 after buying an additional 21,278 shares in the last quarter. Institutional investors and hedge funds 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.