Insider Buying: Southside Bancshares Director Buys 1,250 Shares of Stock (SBSI)
Southside Bancshares (NASDAQ:SBSI) Director Paul Powell bought 1,250 shares of the stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $26.14 per share, for a total transaction of $32,675.00. Following the acquisition, the director now directly owns 63,208 shares of the company’s stock, valued at approximately $1,652,257. The acquisition 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) opened at 26.92 on Friday. Southside Bancshares has a one year low of $22.51 and a one year high of $32.95. The stock has a 50-day moving average of $27.14 and a 200-day moving average of $28.07. The company has a market cap of $506.8 million and a P/E ratio of 12.45. Southside Bancshares also was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,583,617 shares, an increase of 64.7% from the April 30th total of 1,569,081 shares. Based on an average daily trading volume, of 194,972 shares, the short-interest ratio is currently 13.3 days. Approximately 15.1% of the shares of the company are sold short.
Southside Bancshares, Inc (NASDAQ:SBSI) bank holding company for Southside Bank.
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