Southside Bancshares (SBSI) Upgraded to Hold by BidaskClub
Southside Bancshares (NASDAQ:SBSI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Other analysts also recently issued reports about the stock. Piper Jaffray Companies began coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price target on the stock. Zacks Investment Research upgraded shares of Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Saturday, January 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price target on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $37.33.
Shares of Southside Bancshares (SBSI) traded up $0.57 during trading hours on Thursday, hitting $35.62. 126,665 shares of the company were exchanged, compared to its average volume of 121,071. The firm has a market cap of $1,030.00, a P/E ratio of 18.65 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.56. Southside Bancshares has a 1-year low of $31.20 and a 1-year high of $37.97.
In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $33.94, for a total transaction of $153,137.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tony K. Morgan bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $35.45 per share, for a total transaction of $35,450.00. The disclosure for this purchase can be found here. Company insiders own 17.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Hancock Holding Co. raised its holdings in Southside Bancshares by 2.5% during the 2nd quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock worth $8,699,000 after buying an additional 6,074 shares during the period. Walthausen & Co. LLC raised its holdings in Southside Bancshares by 2.1% during the 2nd quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock worth $14,756,000 after buying an additional 8,556 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Southside Bancshares by 589.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,369 shares of the bank’s stock worth $1,613,000 after buying an additional 37,936 shares during the period. Russell Investments Group Ltd. acquired a new stake in Southside Bancshares during the 2nd quarter worth approximately $318,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in Southside Bancshares by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock worth $4,251,000 after buying an additional 4,254 shares during the period. Hedge funds and other institutional investors own 43.21% of the company’s stock.
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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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