Southside Bancshares (NASDAQ:SBSI) Raised to Buy at ValuEngine

Southside Bancshares (NASDAQ:SBSI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday, December 4th.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 price target on shares of Southside Bancshares in a report on Tuesday, August 29th. BidaskClub cut shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, Piper Jaffray Companies began coverage on shares of Southside Bancshares in a research note on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective for the company. Two equities research 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. Southside Bancshares presently has an average rating of “Hold” and an average price target of $37.00.

Southside Bancshares (NASDAQ:SBSI) traded down $0.33 on Monday, hitting $33.68. The stock had a trading volume of 96,171 shares, compared to its average volume of 116,817. Southside Bancshares has a 52 week low of $30.44 and a 52 week high of $37.57. The company has a market capitalization of $991.32, a PE ratio of 17.63 and a beta of 0.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 27th. The bank reported $0.49 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 firm had revenue of $44.37 million for the quarter, compared to the consensus estimate of $51.00 million. equities analysts forecast that Southside Bancshares will post 1.97 earnings per share for the current fiscal year.

In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $33.94, for a total transaction of $153,137.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter M. Boyd sold 750 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.19, for a total transaction of $26,392.50. Following the transaction, the executive vice president now owns 3,563 shares in the company, valued at $125,381.97. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Catalyst Capital Advisors LLC lifted its position in shares of Southside Bancshares by 111.4% during the third quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock worth $138,000 after purchasing an additional 2,002 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Southside Bancshares by 85.3% in the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock valued at $189,000 after buying an additional 2,498 shares during the period. Bbva Compass Bancshares Inc. acquired a new position in Southside Bancshares in the third quarter valued at approximately $204,000. Piedmont Investment Advisors LLC acquired a new position in Southside Bancshares in the second quarter valued at approximately $205,000. Finally, Pitcairn Co. acquired a new position in Southside Bancshares in the second quarter valued at approximately $207,000. Institutional investors own 43.21% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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