Southside Bancshares, Inc. (NASDAQ:SBSI) has received an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Brokers have set a 12 month consensus price target of $37.25 for the company and are anticipating that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 14 out of 265 based on the ratings given to its competitors.

SBSI has been the topic of a number of analyst reports. ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. BidaskClub raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Zacks Investment Research raised Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research note on Saturday, January 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 price objective on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies initiated coverage on Southside Bancshares in a research note on Friday, September 22nd. They set a “neutral” rating and a $37.00 price objective on the stock.

Southside Bancshares (SBSI) traded down $0.66 on Friday, hitting $35.11. The company had a trading volume of 123,399 shares, compared to its average volume of 120,080. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $1,040.00, a price-to-earnings ratio of 18.38 and a beta of 0.76. Southside Bancshares has a fifty-two week low of $31.20 and a fifty-two week high of $37.70.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $44.37 million for the quarter, compared to analyst estimates of $51.00 million. Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. research analysts forecast that Southside Bancshares will post 1.97 earnings per share for the current fiscal year.

In related news, Director Michael J. Bosworth sold 4,512 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $33.94, for a total transaction of $153,137.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tony K. Morgan bought 1,000 shares of Southside Bancshares stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average price of $35.45 per share, for a total transaction of $35,450.00. The disclosure for this purchase can be found here. Corporate insiders own 17.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBSI. Russell Investments Group Ltd. purchased a new position in Southside Bancshares during the second quarter worth about $318,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Southside Bancshares by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock worth $4,251,000 after purchasing an additional 4,254 shares during the period. Rhumbline Advisers raised its holdings in shares of Southside Bancshares by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 54,469 shares of the bank’s stock worth $1,903,000 after purchasing an additional 1,675 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Southside Bancshares by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock worth $19,846,000 after purchasing an additional 23,654 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Southside Bancshares by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 48,993 shares of the bank’s stock worth $1,712,000 after purchasing an additional 5,043 shares during the period. Hedge funds and other institutional investors own 43.21% of the company’s stock.

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About Southside Bancshares

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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