Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $29.50.
SBSI has been the subject of several recent analyst reports. ValuEngine lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Piper Sandler boosted their target price on Southside Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. TheStreet upgraded Southside Bancshares from a “c+” rating to a “b” rating in a research report on Monday, November 23rd. Finally, BidaskClub upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, January 7th.
Shares of NASDAQ:SBSI opened at $33.01 on Thursday. Southside Bancshares has a 1 year low of $23.51 and a 1 year high of $37.74. The business has a 50 day simple moving average of $31.21 and a two-hundred day simple moving average of $28.20. The firm has a market capitalization of $1.09 billion, a PE ratio of 17.75 and a beta of 0.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.77.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 23rd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.26. Southside Bancshares had a return on equity of 7.86% and a net margin of 21.63%. The business had revenue of $60.75 million during the quarter, compared to analyst estimates of $60.85 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts expect that Southside Bancshares will post 1.93 EPS for the current fiscal year.
In other Southside Bancshares news, CFO Julie Shamburger sold 1,600 shares of the company’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $31.05, for a total transaction of $49,680.00. Following the completion of the sale, the chief financial officer now owns 18,942 shares in the company, valued at $588,149.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SBSI. Bank of Montreal Can increased its position in shares of Southside Bancshares by 169.4% during the second quarter. Bank of Montreal Can now owns 4,402 shares of the bank’s stock worth $108,000 after purchasing an additional 2,768 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Southside Bancshares by 318.7% during the third quarter. BNP Paribas Arbitrage SA now owns 8,215 shares of the bank’s stock worth $201,000 after purchasing an additional 6,253 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Southside Bancshares during the second quarter worth $202,000. AQR Capital Management LLC acquired a new position in shares of Southside Bancshares during the third quarter worth $207,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Southside Bancshares during the third quarter worth $232,000. Institutional investors own 50.09% of the company’s stock.
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.
Further Reading: Understanding Stock Ratings
Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.