ValuEngine cut shares of Southside Bancshares (NASDAQ:SBSI) from a buy rating to a hold rating in a report published on Wednesday.
A number of other equities analysts have also recently weighed in on SBSI. BidaskClub raised Southside Bancshares from a sell rating to a hold rating in a report on Friday, December 22nd. Zacks Investment Research raised Southside Bancshares from a strong sell rating to a hold rating and set a $38.00 target price for the company in a report on Saturday, January 6th. Five equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average target price of $38.00.
NASDAQ SBSI opened at $35.11 on Wednesday. The stock has a market capitalization of $1,213.52, a P/E ratio of 18.58 and a beta of 0.75. Southside Bancshares has a twelve month low of $31.20 and a twelve month high of $37.57. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.56.
In other news, CFO Julie Shamburger bought 3,250 shares of Southside Bancshares stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $34.88 per share, with a total value of $113,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 14,164 shares of the company’s stock, valued at $494,040.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Southside Bancshares by 5.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,374,007 shares of the bank’s stock valued at $49,958,000 after acquiring an additional 75,241 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Southside Bancshares by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 870,410 shares of the bank’s stock valued at $29,315,000 after purchasing an additional 31,200 shares in the last quarter. American Century Companies Inc. grew its position in shares of Southside Bancshares by 10.8% in the fourth quarter. American Century Companies Inc. now owns 508,586 shares of the bank’s stock valued at $17,129,000 after purchasing an additional 49,670 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Southside Bancshares by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 255,372 shares of the bank’s stock valued at $8,600,000 after purchasing an additional 4,454 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Southside Bancshares by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 164,959 shares of the bank’s stock valued at $5,945,000 after purchasing an additional 5,795 shares in the last quarter. 43.51% of the stock is owned by institutional investors and hedge funds.
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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