Southside Bancshares, Inc. (NASDAQ:SBSI) has received a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus price target of $32.50 for the company and are anticipating that the company will post $0.54 EPS for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 215 out of 255 based on the ratings given to its competitors.
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Several analysts have recently commented on SBSI shares. BidaskClub upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 31st.
In other Southside Bancshares news, Director Tony K. Morgan purchased 1,000 shares of the stock in a transaction dated Monday, December 10th. The shares were acquired at an average cost of $31.85 per share, for a total transaction of $31,850.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Southside Bancshares by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock worth $174,000 after acquiring an additional 1,648 shares during the last quarter. Commerce Bank acquired a new stake in Southside Bancshares during the third quarter worth approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Southside Bancshares during the third quarter worth approximately $274,000. Virtu Financial LLC acquired a new stake in Southside Bancshares during the third quarter worth approximately $303,000. Finally, State of Alaska Department of Revenue boosted its position in Southside Bancshares by 18.9% during the third quarter. State of Alaska Department of Revenue now owns 10,679 shares of the bank’s stock worth $371,000 after acquiring an additional 1,701 shares during the last quarter. Hedge funds and other institutional investors own 49.91% of the company’s stock.
Southside Bancshares stock traded up $0.38 during mid-day trading on Thursday, reaching $33.29. The company had a trading volume of 107,017 shares, compared to its average volume of 139,185. Southside Bancshares has a 1 year low of $29.28 and a 1 year high of $37.32. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.15 billion, a PE ratio of 15.78 and a beta of 0.82.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, February 1st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.08). Southside Bancshares had a net margin of 27.47% and a return on equity of 9.94%. The company had revenue of $52.54 million during the quarter, compared to analysts’ expectations of $55.50 million. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Southside Bancshares will post 2.27 EPS for the current fiscal year.
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 deposit.
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