Brokerages Anticipate Southside Bancshares, Inc. (SBSI) to Announce $0.53 Earnings Per Share
Southside Bancshares, Inc. (NASDAQ:SBSI) has earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price objective of $34.61 for the company and are forecasting that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 18 out of 265 based on the ratings given to its competitors.
A number of brokerages have commented on SBSI. Zacks Investment Research cut 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 target on shares of Southside Bancshares in a report on Friday, April 28th. Finally, BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th.
Shares of Southside Bancshares (SBSI) traded down 0.67% during mid-day trading on Wednesday, reaching $35.71. The company had a trading volume of 27,443 shares. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 19.52 and a beta of 0.78. The stock has a 50 day moving average of $34.66 and a 200-day moving average of $33.98. Southside Bancshares has a 52 week low of $29.29 and a 52 week high of $38.04.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, April 28th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. The business had revenue of $44.95 million during the quarter, compared to analysts’ expectations of $48.40 million. On average, analysts expect that Southside Bancshares will post $2.14 earnings per share for the current fiscal year.
In related news, Director Alton Cade, Jr. sold 2,950 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.31, for a total value of $104,164.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tim Carter sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $34.76, for a total value of $173,800.00. Following the completion of 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. 17.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Southside Bancshares during the first quarter valued at approximately $102,000. US Bancorp DE boosted its stake in Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after buying an additional 1,303 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after buying an additional 576 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Southside Bancshares by 85.3% in the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock valued at $189,000 after buying an additional 2,498 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Southside Bancshares by 8.3% in the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock valued at $208,000 after buying an additional 475 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.
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Southside Bancshares Company Profile
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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