Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus price target of $33.75 for the company and are expecting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 191 out of 256 based on the ratings given to related companies.
Several analysts have commented on SBSI shares. BidaskClub raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 31st.
In related news, Director Tony K. Morgan acquired 1,000 shares of the business’s stock in a transaction dated Monday, December 10th. The shares were purchased at an average price of $31.85 per share, for a total transaction of $31,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tony K. Morgan acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were bought at an average price of $31.15 per share, for a total transaction of $62,300.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 3,134 shares of company stock worth $98,467. Corporate insiders own 6.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SBSI. First Trust Advisors LP increased its holdings in shares of Southside Bancshares by 54.4% during the second quarter. First Trust Advisors LP now owns 63,575 shares of the bank’s stock valued at $2,141,000 after acquiring an additional 22,400 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Southside Bancshares by 9.6% during the second quarter. Rhumbline Advisers now owns 71,875 shares of the bank’s stock valued at $2,421,000 after acquiring an additional 6,309 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Southside Bancshares by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 464,329 shares of the bank’s stock valued at $15,639,000 after acquiring an additional 13,617 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Southside Bancshares during the second quarter valued at about $227,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Southside Bancshares by 13.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 160,900 shares of the bank’s stock valued at $5,420,000 after acquiring an additional 19,441 shares in the last quarter. Hedge funds and other institutional investors own 51.33% of the company’s stock.
SBSI stock opened at $34.00 on Wednesday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 17.99 and a beta of 0.85. Southside Bancshares has a one year low of $29.28 and a one year high of $37.32. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.
Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Friday, October 26th. The bank reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). The firm had revenue of $54.82 million for the quarter, compared to analysts’ expectations of $56.10 million. Southside Bancshares had a net margin of 25.71% and a return on equity of 9.25%. Analysts predict that Southside Bancshares will post 2.19 earnings per share for the current year.
About Southside Bancshares
Southside Bancshares, Inc operates as a bank holding company of Southside Bank. It offers checking, saving & retirement accounts, certificate of deposits, debit, credit cards, mobile banking, loans, mortgage & equity lending, identity theft prevention, electronic banking, healthcare banking and business loans.
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