Southside Bancshares (SBSI) Lifted to “Hold” at BidaskClub
Southside Bancshares (NASDAQ:SBSI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other brokerages also recently issued reports on SBSI. Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 price objective on shares of Southside Bancshares in a research report on Tuesday, October 3rd. ValuEngine upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Piper Jaffray Companies assumed coverage on Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Southside Bancshares has a consensus rating of “Hold” and an average target price of $37.33.
Shares of Southside Bancshares (NASDAQ:SBSI) traded up $0.15 during trading hours on Thursday, hitting $35.77. The stock had a trading volume of 109,092 shares, compared to its average volume of 123,322. The stock has a market cap of $1,250.81, a price-to-earnings ratio of 18.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. Southside Bancshares has a fifty-two week low of $30.44 and a fifty-two week high of $37.57.
In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares of the company’s stock, valued at $125,381.97. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Hancock Holding Co. raised its holdings in Southside Bancshares by 2.5% in the 2nd quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock valued at $8,699,000 after acquiring an additional 6,074 shares during the last quarter. Walthausen & Co. LLC raised its holdings in Southside Bancshares by 2.1% in the 2nd quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock valued at $14,756,000 after acquiring an additional 8,556 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Southside Bancshares by 589.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,369 shares of the bank’s stock valued at $1,613,000 after acquiring an additional 37,936 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Southside Bancshares by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock valued at $4,251,000 after acquiring an additional 4,254 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Southside Bancshares in the 2nd quarter valued at $318,000. Institutional investors own 43.21% of the company’s stock.
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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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