Southside Bancshares (NASDAQ:SBSI) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday, March 8th.
Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Southside Bancshares currently has an average rating of “Hold” and a consensus target price of $37.33.
Southside Bancshares (SBSI) traded down $0.05 during mid-day trading on Thursday, reaching $35.41. 171,703 shares of the company traded hands, compared to its average volume of 164,822. The firm has a market capitalization of $1,236.47, a price-to-earnings ratio of 18.60 and a beta of 0.77. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.56. Southside Bancshares has a fifty-two week low of $31.20 and a fifty-two week high of $37.57.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.09). The business had revenue of $47.41 million for the quarter, compared to analyst estimates of $53.50 million. Southside Bancshares had a return on equity of 9.50% and a net margin of 24.14%. equities analysts forecast that Southside Bancshares will post 2.48 earnings per share for the current year.
In other Southside Bancshares news, CFO Julie Shamburger acquired 3,250 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $34.88 per share, for a total transaction of $113,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 14,164 shares of the company’s stock, valued at $494,040.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 17.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SBSI. Parametric Portfolio Associates LLC increased its holdings in shares of Southside Bancshares by 33.9% in the second quarter. Parametric Portfolio Associates LLC now owns 42,948 shares of the bank’s stock valued at $1,501,000 after purchasing an additional 10,884 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Southside Bancshares by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,143 shares of the bank’s stock valued at $739,000 after acquiring an additional 1,158 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Southside Bancshares by 2.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after acquiring an additional 158 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Southside Bancshares during the third quarter worth about $255,000. Finally, Victory Capital Management Inc. lifted its position in Southside Bancshares by 27.7% during the third quarter. Victory Capital Management Inc. now owns 23,417 shares of the bank’s stock worth $851,000 after purchasing an additional 5,086 shares during the period. Institutional investors and hedge funds own 43.54% of the company’s stock.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.