Southside Bancshares, Inc. (SBSI) Given “Hold” Rating at Keefe, Bruyette & Woods
Southside Bancshares, Inc. (NASDAQ:SBSI)‘s stock had its “hold” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They presently have a $37.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 0.93% from the stock’s previous close.
SBSI has been the topic of a number of other reports. BidaskClub downgraded Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies assumed coverage on Southside Bancshares in a research note on Friday, September 22nd. They set a “neutral” rating and a $37.00 price objective for the company.
Shares of Southside Bancshares (NASDAQ:SBSI) traded down 0.73% on Tuesday, reaching $36.66. The company’s stock had a trading volume of 100,912 shares. The firm has a 50-day moving average price of $33.40 and a 200 day moving average price of $33.68. Southside Bancshares has a one year low of $30.47 and a one year high of $38.08. The firm has a market capitalization of $1.08 billion, a PE ratio of 19.30 and a beta of 0.81.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $44.72 million during the quarter, compared to the consensus estimate of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. On average, analysts anticipate that Southside Bancshares will post $2.07 earnings per share for the current fiscal year.
In related news, insider Tim Carter sold 7,000 shares of the business’s 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian K. Mccabe sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $33.00, for a total transaction of $49,500.00. Following the transaction, the chief operating officer now owns 16,658 shares of the company’s stock, valued at approximately $549,714. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hancock Holding Co. grew its holdings in Southside Bancshares by 2.5% in the second quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock worth $8,699,000 after purchasing an additional 6,074 shares during the last quarter. Oxford Asset Management acquired a new position in shares of Southside Bancshares during the first quarter worth $746,000. Victory Capital Management Inc. acquired a new position in shares of Southside Bancshares during the first quarter worth $555,000. Russell Investments Group Ltd. acquired a new position in shares of Southside Bancshares during the second quarter worth $318,000. Finally, Bank of America Corp DE increased its position in shares of Southside Bancshares by 70.3% during the first quarter. Bank of America Corp DE now owns 46,138 shares of the bank’s stock worth $1,549,000 after purchasing an additional 19,051 shares in the last quarter. Institutional investors own 51.45% of the company’s stock.
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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