Southside Bancshares (NASDAQ:SBSI - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Tuesday.
Separately, Hovde Group lifted their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th.
Check Out Our Latest Stock Analysis on SBSI
Southside Bancshares Stock Performance
NASDAQ:SBSI traded up $0.61 during mid-day trading on Tuesday, hitting $32.74. 111,148 shares of the company's stock traded hands, compared to its average volume of 115,340. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $33.23 and a two-hundred day moving average of $30.40. The firm has a market capitalization of $992.35 million, a price-to-earnings ratio of 11.82 and a beta of 0.55. Southside Bancshares has a 12 month low of $25.30 and a 12 month high of $36.10.
Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, equities analysts forecast that Southside Bancshares will post 2.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider T L. Arnold, Jr. sold 4,667 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total value of $157,324.57. Following the sale, the insider now directly owns 16,441 shares in the company, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider T L. Arnold, Jr. sold 4,667 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total value of $157,324.57. Following the sale, the insider now directly owns 16,441 shares in the company, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider T L. Arnold, Jr. sold 3,999 shares of the company's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the sale, the insider now directly owns 16,441 shares in the company, valued at $520,028.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.
Hedge Funds Weigh In On Southside Bancshares
Several institutional investors have recently bought and sold shares of SBSI. Nisa Investment Advisors LLC increased its stake in shares of Southside Bancshares by 54.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank's stock valued at $30,000 after buying an additional 387 shares in the last quarter. CWM LLC increased its position in Southside Bancshares by 447.5% in the 2nd quarter. CWM LLC now owns 3,099 shares of the bank's stock valued at $86,000 after acquiring an additional 2,533 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Southside Bancshares by 57.0% in the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank's stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Southside Bancshares by 48.3% during the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank's stock worth $139,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Bill Few Associates Inc. bought a new stake in shares of Southside Bancshares during the third quarter valued at approximately $222,000. Institutional investors own 55.70% of the company's stock.
Southside Bancshares Company Profile
(
Get Free Report)
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 deposits.
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