Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price target of $37.25 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 25 out of 265 based on the ratings given to related companies.
Several analysts have recently commented on the company. BidaskClub upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. ValuEngine upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $37.00 target price on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded Southside Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th.
Shares of Southside Bancshares (NASDAQ SBSI) opened at $34.43 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $1,209.91, a PE ratio of 18.15 and a beta of 0.76. Southside Bancshares has a 12 month low of $31.20 and a 12 month high of $37.57.
In other Southside Bancshares news, EVP Peter M. Boyd sold 750 shares of Southside Bancshares stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $35.19, for a total transaction of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares in the company, valued at approximately $125,381.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tony K. Morgan purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $35.45 per share, with a total value of $35,450.00. The disclosure for this purchase can be found here. 17.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SBSI. Catalyst Capital Advisors LLC boosted its stake in Southside Bancshares by 111.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,002 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new position in Southside Bancshares during the 3rd quarter valued at about $204,000. Piedmont Investment Advisors LLC acquired a new position in Southside Bancshares during the 2nd quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. boosted its stake in Southside Bancshares by 2.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after purchasing an additional 158 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Southside Bancshares during the 3rd quarter valued at about $255,000. Institutional investors and hedge funds own 43.46% of the company’s stock.
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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.
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