Keefe, Bruyette & Woods Increases Southside Bancshares (NASDAQ:SBSI) Price Target to $35.00

Southside Bancshares (NASDAQ:SBSI) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $31.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 4.68% from the stock’s current price.

Separately, Hovde Group raised their price objective on Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Monday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Southside Bancshares presently has an average rating of “Hold” and an average price target of $35.00.

Southside Bancshares Stock Up 1.0%

Shares of NASDAQ SBSI opened at $33.43 on Monday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.49 and a beta of 0.64. Southside Bancshares has a 52 week low of $25.85 and a 52 week high of $33.96. The firm has a 50-day moving average price of $31.49 and a 200 day moving average price of $30.06. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Insiders Place Their Bets

In related news, Director Herbert C. Buie purchased 1,807 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average cost of $30.68 per share, with a total value of $55,438.76. Following the completion of the acquisition, the director directly owned 389,288 shares in the company, valued at $11,943,355.84. The trade was a 0.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.

Institutional Trading of Southside Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Southside Bancshares by 26.6% in the 4th quarter. GAMMA Investing LLC now owns 1,809 shares of the bank’s stock valued at $55,000 after purchasing an additional 380 shares in the last quarter. Lion Street Advisors LLC raised its position in shares of Southside Bancshares by 4.3% in the third quarter. Lion Street Advisors LLC now owns 10,276 shares of the bank’s stock valued at $290,000 after buying an additional 424 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Southside Bancshares by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the bank’s stock valued at $494,000 after buying an additional 701 shares during the period. The Manufacturers Life Insurance Company boosted its position in Southside Bancshares by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the bank’s stock worth $324,000 after acquiring an additional 706 shares during the last quarter. Finally, Polaris Capital Management LLC boosted its position in Southside Bancshares by 1.2% during the fourth quarter. Polaris Capital Management LLC now owns 62,227 shares of the bank’s stock worth $1,891,000 after acquiring an additional 727 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.