Southside Bancshares (SBSI) Downgraded by ValuEngine

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.

How to Become a New Pot Stock Millionaire

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.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The business had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million. Southside Bancshares had a return on equity of 9.50% and a net margin of 24.14%. equities research analysts expect that Southside Bancshares will post 2.48 EPS for the current year.

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://weekherald.com/2018/04/21/southside-bancshares-sbsi-downgraded-by-valuengine.html.

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.

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

Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply