Southside Bancshares, Inc. (NASDAQ:SBSI) Given Average Recommendation of “Hold” by Brokerages

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Brokers have set a 12 month consensus price objective of $34.50 for the company and are predicting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 97 out of 255 based on the ratings given to related companies.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. ValuEngine upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday.

In other news, Director John F. Sammons, Jr. bought 1,500 shares of Southside Bancshares stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $33.18 per share, with a total value of $49,770.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Shamburger sold 1,635 shares of Southside Bancshares stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $34.84, for a total transaction of $56,963.40. Following the transaction, the chief financial officer now directly owns 17,237 shares in the company, valued at $600,537.08. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Arizona State Retirement System raised its stake in shares of Southside Bancshares by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 49,166 shares of the bank’s stock valued at $1,592,000 after acquiring an additional 313 shares during the period. Virginia Retirement Systems ET AL increased its stake in Southside Bancshares by 3.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the bank’s stock worth $363,000 after buying an additional 400 shares during the period. Creative Planning increased its stake in Southside Bancshares by 27.2% during the 2nd quarter. Creative Planning now owns 80,505 shares of the bank’s stock worth $2,607,000 after buying an additional 17,200 shares during the period. Fisher Asset Management LLC increased its stake in Southside Bancshares by 15.6% during the 2nd quarter. Fisher Asset Management LLC now owns 41,970 shares of the bank’s stock worth $1,359,000 after buying an additional 5,674 shares during the period. Finally, First Trust Advisors LP grew its holdings in Southside Bancshares by 51.9% during the 2nd quarter. First Trust Advisors LP now owns 63,084 shares of the bank’s stock worth $2,043,000 after acquiring an additional 21,567 shares in the last quarter. 52.82% of the stock is currently owned by institutional investors.

Shares of NASDAQ SBSI traded up $0.02 during midday trading on Monday, reaching $35.14. 44,000 shares of the company’s stock traded hands, compared to its average volume of 106,483. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $34.47 and its 200-day simple moving average is $33.67. Southside Bancshares has a one year low of $29.71 and a one year high of $35.97. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 16.65 and a beta of 0.70.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Friday, October 25th. The bank reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). The firm had revenue of $55.29 million for the quarter, compared to analyst estimates of $56.95 million. Southside Bancshares had a net margin of 26.61% and a return on equity of 9.79%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. Equities analysts predict that Southside Bancshares will post 2.26 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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