Southside Bancshares (NASDAQ:SBSI) Rating Lowered to Sell at StockNews.com

by · The Markets Daily

Southside Bancshares (NASDAQ:SBSI – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Separately, Hovde Group raised their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Get Our Latest Analysis on SBSI

Southside Bancshares Stock Up 13.7 %

SBSI stock opened at $37.22 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $33.29 and its 200-day simple moving average is $30.45. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $37.58. The firm has a market capitalization of $1.13 billion, a PE ratio of 13.44 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI – Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same quarter last year, the company posted $0.60 EPS. Equities analysts expect that Southside Bancshares will post 2.98 earnings per share for the current fiscal year.

Insider Activity at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the transaction, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.10% of the company’s stock.

Institutional Trading of Southside Bancshares

Several institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after buying an additional 387 shares during the period. CWM LLC lifted its stake in shares of Southside Bancshares by 447.5% in the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,533 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after purchasing an additional 1,195 shares during the period. Point72 Asset Management L.P. increased its position in Southside Bancshares by 48.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Bill Few Associates Inc. purchased a new position in Southside Bancshares in the third quarter valued at approximately $222,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

About Southside Bancshares

(Get Free Report)

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.

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