Southside Bancshares (SBSI) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of Southside Bancshares (NASDAQ:SBSI) from a hold rating to a buy rating in a research note issued to investors on Monday morning.
Several other research firms have also issued reports on SBSI. Keefe, Bruyette & Woods restated a hold rating and issued a $38.00 price target on shares of Southside Bancshares in a research report on Tuesday, August 29th. Zacks Investment Research upgraded Southside Bancshares from a sell rating to a hold rating in a research report on Thursday, September 28th. Piper Jaffray Companies initiated coverage on Southside Bancshares in a research report on Friday, September 22nd. They issued a neutral rating and a $37.00 price target on the stock. Finally, BidaskClub lowered Southside Bancshares from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $37.00.
Southside Bancshares (SBSI) traded up $0.09 during midday trading on Monday, hitting $36.28. The stock had a trading volume of 87,000 shares, compared to its average volume of 107,942. The firm has a market cap of $1,065.20, a PE ratio of 18.98 and a beta of 0.76. Southside Bancshares has a one year low of $31.20 and a one year high of $38.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, October 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. The company had revenue of $44.37 million during the quarter, compared to the consensus estimate of $51.00 million. equities research analysts forecast that Southside Bancshares will post 1.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.12 annualized dividend and a yield of 3.09%. Southside Bancshares’s dividend payout ratio is presently 58.74%.
In other Southside Bancshares news, COO Brian K. Mccabe sold 1,500 shares of Southside Bancshares stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $33.00, for a total transaction of $49,500.00. Following the transaction, the chief operating officer now directly owns 16,658 shares in the company, valued at $549,714. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Bosworth sold 4,512 shares of Southside Bancshares stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after purchasing an additional 158 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 7,116 shares of the bank’s stock valued at $249,000 after purchasing an additional 174 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,754 shares of the bank’s stock valued at $306,000 after purchasing an additional 213 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 10,607 shares of the bank’s stock valued at $371,000 after purchasing an additional 257 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Southside Bancshares by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 11,070 shares of the bank’s stock valued at $387,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 51.44% of the company’s stock.
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Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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