Insider Buying: Paul Powell Buys 2,200 Shares of Southside Bancshares Stock (SBSI)
Southside Bancshares (NASDAQ:SBSI) Director Paul Powell bought 2,200 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $22.70 per share, with a total value of $49,940.00. Following the acquisition, the director now directly owns 61,958 shares in the company, valued at approximately $1,406,447. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of Southside Bancshares from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $35.00 price target on the stock.
Shares of Southside Bancshares (NASDAQ:SBSI) traded up 0.15% during mid-day trading on Friday, hitting $26.80. The stock had a trading volume of 33,960 shares. Southside Bancshares has a 52 week low of $22.51 and a 52 week high of $32.95. The stock’s 50-day moving average is $27.15 and its 200-day moving average is $28.07. The company has a market cap of $504.5 million and a P/E ratio of 12.45. Southside Bancshares also was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 2,583,617 shares, a growth of 64.7% from the April 30th total of 1,569,081 shares. Approximately 15.1% of the company’s stock are short sold. Based on an average daily volume of 194,972 shares, the days-to-cover ratio is currently 13.3 days.
Southside Bancshares, Inc (NASDAQ:SBSI) bank holding company for Southside Bank.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.