Southside Bancshares, Inc. (SBSI) Given “Hold” Rating at Keefe, Bruyette & Woods
Southside Bancshares, Inc. (NASDAQ:SBSI)‘s stock had its “hold” rating restated by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $38.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 16.14% from the company’s previous close.
A number of other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, May 9th.
Southside Bancshares (NASDAQ SBSI) traded up 0.28% on Tuesday, reaching $32.81. The company’s stock had a trading volume of 40,771 shares. The firm has a 50-day moving average of $34.16 and a 200-day moving average of $33.74. Southside Bancshares has a one year low of $30.44 and a one year high of $38.04. The company has a market capitalization of $962.74 million, a PE ratio of 17.28 and a beta of 0.78.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.04. The company had revenue of $44.72 million for the quarter, compared to analysts’ expectations of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. Analysts predict that Southside Bancshares will post $2.07 EPS for the current year.
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In other Southside Bancshares news, insider Tim Carter sold 7,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.95, for a total transaction of $237,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $104,164.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,950 shares of company stock worth $515,615. 17.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Southside Bancshares by 0.5% in the second quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock worth $116,987,000 after buying an additional 15,123 shares during the period. BlackRock Fund Advisors raised its stake in Southside Bancshares by 7.8% in the third quarter. BlackRock Fund Advisors now owns 1,774,100 shares of the bank’s stock worth $57,091,000 after buying an additional 128,062 shares during the period. Vanguard Group Inc. raised its stake in Southside Bancshares by 6.2% in the second quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock worth $60,373,000 after buying an additional 100,282 shares during the period. Dimensional Fund Advisors LP raised its stake in Southside Bancshares by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,298,766 shares of the bank’s stock worth $45,379,000 after buying an additional 82,423 shares during the period. Finally, State Street Corp raised its stake in Southside Bancshares by 37.0% in the first quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after buying an additional 246,458 shares during the period. Institutional investors own 51.45% of the company’s stock.
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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