Southside Bancshares, Inc. (NASDAQ:SBSI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Southside Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a report on Friday, April 28th.

Shares of Southside Bancshares (SBSI) traded down 0.03% during midday trading on Friday, reaching $34.93. The company had a trading volume of 88,946 shares. Southside Bancshares has a one year low of $29.29 and a one year high of $38.04. The company has a 50-day moving average price of $33.78 and a 200 day moving average price of $34.20. The company has a market capitalization of $1.02 billion, a P/E ratio of 19.10 and a beta of 0.78.

Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Friday, April 28th. The bank reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $44.95 million during the quarter, compared to analyst estimates of $48.40 million. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. Equities analysts anticipate that Southside Bancshares will post $2.14 earnings per share for the current fiscal year.

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In other Southside Bancshares news, Director Alton Cade, Jr. sold 2,950 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $35.31, for a total transaction of $104,164.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tim Carter sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $34.76, for a total value of $173,800.00. Following the sale, the insider now directly owns 39,752 shares of the company’s stock, valued at approximately $1,381,779.52. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Southside Bancshares by 13.4% in the fourth quarter. Comerica Bank now owns 27,789 shares of the bank’s stock valued at $1,042,000 after buying an additional 3,280 shares in the last quarter. Creative Planning raised its stake in Southside Bancshares by 59.9% in the first quarter. Creative Planning now owns 80,100 shares of the bank’s stock valued at $2,689,000 after buying an additional 30,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Southside Bancshares by 5.0% in the fourth quarter. AQR Capital Management LLC now owns 9,678 shares of the bank’s stock valued at $365,000 after buying an additional 465 shares in the last quarter. State Street Corp raised its stake in Southside Bancshares by 19.3% in the fourth quarter. State Street Corp now owns 665,647 shares of the bank’s stock valued at $25,074,000 after buying an additional 107,657 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in Southside Bancshares during the first quarter valued at about $746,000. 50.98% of the stock is owned by institutional investors and hedge funds.

About Southside Bancshares

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

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