StockNews.com Upgrades Southside Bancshares (NASDAQ:SBSI) to Hold

Southside Bancshares (NASDAQ:SBSI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Other analysts also recently issued reports about the stock. Raymond James started coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating on the stock. Stephens reduced their price target on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th.

Southside Bancshares Trading Up 2.0 %

NASDAQ:SBSI opened at $28.89 on Friday. The firm has a market capitalization of $872.97 million, a P/E ratio of 9.93 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. Southside Bancshares has a one year low of $25.30 and a one year high of $38.00. The company’s 50-day simple moving average is $28.42 and its 200 day simple moving average is $31.35.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. The company had revenue of $100.29 million for the quarter, compared to the consensus estimate of $67.37 million. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, analysts forecast that Southside Bancshares will post 2.84 EPS for the current fiscal year.

Institutional Trading of Southside Bancshares

A number of large investors have recently made changes to their positions in the stock. Naples Global Advisors LLC raised its position in Southside Bancshares by 3.8% in the first quarter. Naples Global Advisors LLC now owns 10,924 shares of the bank’s stock worth $316,000 after acquiring an additional 400 shares during the period. GAMMA Investing LLC raised its holdings in Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after purchasing an additional 507 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Southside Bancshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank’s stock worth $519,000 after purchasing an additional 571 shares during the period. Sterling Capital Management LLC lifted its position in Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock valued at $29,000 after purchasing an additional 824 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Southside Bancshares by 1.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank’s stock worth $1,893,000 after buying an additional 932 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

About Southside Bancshares

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposits.