BidaskClub lowered shares of Southside Bancshares, Inc. (NASDAQ:SBSI) from a hold rating to a sell rating in a research report report published on Sunday morning.

Several other research analysts also recently commented on SBSI. Zacks Investment Research raised Southside Bancshares from a hold rating to a strong-buy rating and set a $41.00 price objective on the stock in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $38.00 price objective on shares of Southside Bancshares in a research note on Friday, April 28th.

Southside Bancshares (NASDAQ SBSI) traded down 0.03% during midday trading on Friday, hitting $34.93. The stock had a trading volume of 88,946 shares. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 19.10 and a beta of 0.78. The firm has a 50 day moving average of $33.78 and a 200 day moving average of $34.20. Southside Bancshares has a 52 week low of $29.29 and a 52 week high of $38.04.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Friday, April 28th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $44.95 million for the quarter, compared to the consensus estimate of $48.40 million. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. Equities research analysts predict that Southside Bancshares will post $2.14 EPS for the current year.

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In other Southside Bancshares news, Director Alton Cade, Jr. sold 2,950 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.31, for a total transaction of $104,164.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tim Carter sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $34.76, for a total value of $173,800.00. Following the transaction, the insider now owns 39,752 shares of the company’s stock, valued at approximately $1,381,779.52. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Southside Bancshares during the first quarter valued at about $102,000. US Bancorp DE raised its stake in shares of Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock worth $127,000 after buying an additional 1,303 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after buying an additional 576 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of 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 worth $189,000 after buying an additional 2,498 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Southside Bancshares by 8.3% in the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock worth $208,000 after buying an additional 475 shares in the last quarter. 50.98% of the stock is owned by institutional investors and hedge funds.

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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