Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus price target of $33.50 for the company and are anticipating that the company will post $0.58 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 192 out of 256 based on the ratings given to its competitors.
SBSI has been the topic of a number of recent research reports. Zacks Investment Research downgraded ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd.
In other Southside Bancshares news, Director Tony K. Morgan purchased 1,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was purchased at an average price of $33.01 per share, for a total transaction of $33,010.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 1,127 shares of company stock valued at $37,429. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock worth $221,000 after purchasing an additional 6,653 shares during the period. United Services Automobile Association bought a new position in Southside Bancshares during the fourth quarter worth about $236,000. Metropolitan Life Insurance Co. NY lifted its stake in Southside Bancshares by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock worth $348,000 after purchasing an additional 8,565 shares during the period. Virginia Retirement Systems ET AL lifted its stake in Southside Bancshares by 3.7% during the second quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the bank’s stock worth $363,000 after purchasing an additional 400 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Southside Bancshares in the fourth quarter valued at approximately $388,000. Hedge funds and other institutional investors own 53.33% of the company’s stock.
SBSI stock traded up $0.74 during trading on Friday, reaching $33.61. 188,191 shares of the stock were exchanged, compared to its average volume of 69,623. Southside Bancshares has a twelve month low of $29.28 and a twelve month high of $37.32. The firm has a market capitalization of $1.13 billion, a P/E ratio of 15.93 and a beta of 0.74. The business’s 50 day simple moving average is $32.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.78 and a quick ratio of 0.78.
Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, July 26th. The bank reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The business had revenue of $55.41 million for the quarter, compared to the consensus estimate of $55.28 million. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Southside Bancshares will post 2.25 EPS for the current fiscal year.
About Southside Bancshares
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 deposit.
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