Southside Bancshares, Inc. (NASDAQ:SBSI) Director Tony K. Morgan purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average cost of $35.45 per share, with a total value of $35,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Southside Bancshares, Inc. (SBSI) traded up $0.12 during trading hours on Friday, reaching $34.86. 265,954 shares of the company’s stock traded hands, compared to its average volume of 104,868. Southside Bancshares, Inc. has a 1 year low of $30.44 and a 1 year high of $37.57. 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 $1,214.80, a P/E ratio of 18.28 and a beta of 0.77.
Large investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC increased its stake in Southside Bancshares by 111.4% in the third 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 in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in Southside Bancshares in the third quarter valued at approximately $204,000. Piedmont Investment Advisors LLC bought a new stake in Southside Bancshares in the second quarter valued at approximately $205,000. Raymond James Financial Services Advisors Inc. increased its stake in 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 purchasing an additional 158 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Southside Bancshares in the third quarter valued at approximately $255,000. 43.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Zacks Investment Research raised shares of Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 price target for the company in a research note on Saturday, January 6th. Finally, ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.33.
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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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