Southside Bancshares, Inc. (NASDAQ:SBSI)‘s stock had its “hold” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday. They presently have a $38.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 16.00% from the company’s previous close.

Several other analysts have also issued reports on SBSI. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. BidaskClub lowered Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.

Southside Bancshares (NASDAQ:SBSI) opened at 32.76 on Tuesday. Southside Bancshares has a 1-year low of $30.44 and a 1-year high of $38.04. The company has a market capitalization of $961.28 million, a P/E ratio of 17.25 and a beta of 0.78. The firm’s 50-day moving average is $34.16 and its 200-day moving average is $33.74.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.04. The company had revenue of $44.72 million for the quarter, compared to analyst estimates of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. Equities research analysts predict that Southside Bancshares will post $2.07 EPS for the current year.

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In related news, Director Alton Cade, Jr. sold 2,950 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $35.31, for a total value of $104,164.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tim Carter sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $33.95, for a total value of $237,650.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,950 shares of company stock worth $515,615. 17.20% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in Southside Bancshares by 152.8% in the first quarter. Sei Investments Co. now owns 21,620 shares of the bank’s stock valued at $726,000 after buying an additional 13,069 shares during the period. Karp Capital Management Corp acquired a new stake in Southside Bancshares during the first quarter valued at $480,000. Comerica Bank raised its stake in Southside Bancshares by 6.3% in the first quarter. Comerica Bank now owns 29,540 shares of the bank’s stock valued at $1,037,000 after buying an additional 1,751 shares during the period. BNP Paribas Arbitrage SA raised its stake in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after buying an additional 576 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Southside Bancshares by 31.2% in the first quarter. Bank of New York Mellon Corp now owns 544,342 shares of the bank’s stock valued at $18,273,000 after buying an additional 129,337 shares during the period. 51.45% of the stock is currently owned by institutional investors and hedge funds.

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.

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