According to Zacks, “Southside Bancshares Corp., through its subsidiary banks, is primarily engaged in commercial banking and providing trust services. Southside’s subsidiary banks are engaged in the general banking business of accepting funds for deposit, making loans, renting safe deposit boxes and performing such other banking services as are usual and customary in banks of similar size and character. All of the subsidiary banks offer real estate, commercial and consumer loans. “
Separately, BidaskClub upgraded Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd.
Shares of SBSI opened at $32.03 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50-day moving average of $32.80. The stock has a market capitalization of $1.08 billion, a PE ratio of 15.18 and a beta of 0.74. Southside Bancshares has a 52 week low of $29.28 and a 52 week high of $37.32.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The business had revenue of $53.05 million during the quarter, compared to analysts’ expectations of $54.48 million. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities research analysts forecast that Southside Bancshares will post 2.25 EPS for the current year.
In other Southside Bancshares news, Director Tony K. Morgan acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average price of $33.01 per share, with a total value of $33,010.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 1,127 shares of company stock valued at $37,429. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chatham Capital Group Inc. boosted its stake in shares of Southside Bancshares by 0.9% in the first quarter. Chatham Capital Group Inc. now owns 46,633 shares of the bank’s stock worth $1,550,000 after acquiring an additional 395 shares during the period. Thrivent Financial for Lutherans boosted its stake in Southside Bancshares by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 22,962 shares of the bank’s stock valued at $729,000 after buying an additional 505 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Southside Bancshares by 5.2% during the first quarter. New York State Teachers Retirement System now owns 12,610 shares of the bank’s stock valued at $419,000 after buying an additional 626 shares during the last quarter. Texas Permanent School Fund boosted its stake in Southside Bancshares by 4.2% during the fourth quarter. Texas Permanent School Fund now owns 21,628 shares of the bank’s stock valued at $687,000 after buying an additional 875 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Southside Bancshares by 9.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 26,971 shares of the bank’s stock valued at $896,000 after buying an additional 2,312 shares during the last quarter. 53.35% of the stock is owned by hedge funds and other institutional investors.
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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