Southside Bancshares (NASDAQ:SBSI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday, March 8th.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. ValuEngine upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.33.
Shares of Southside Bancshares (SBSI) traded up $0.38 during midday trading on Thursday, hitting $35.84. The company had a trading volume of 711,857 shares, compared to its average volume of 204,371. 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 has a 52 week low of $31.20 and a 52 week high of $37.57. The company has a market capitalization of $1,255.40, a PE ratio of 19.72 and a beta of 0.77.
In other news, CFO Julie Shamburger purchased 3,250 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $34.88 per share, with a total value of $113,360.00. Following the completion of the purchase, the chief financial officer now owns 14,164 shares of the company’s stock, valued at approximately $494,040.32. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. First Dallas Securities Inc. acquired a new position in shares of Southside Bancshares in the fourth quarter worth approximately $126,000. Catalyst Capital Advisors LLC lifted its stake in shares of Southside Bancshares by 111.4% in the third quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock worth $138,000 after acquiring an additional 2,002 shares during the period. Advisor Group Inc. lifted its stake in shares of Southside Bancshares by 87.7% in the fourth quarter. Advisor Group Inc. now owns 3,985 shares of the bank’s stock worth $135,000 after acquiring an additional 1,862 shares during the period. Xact Kapitalforvaltning AB bought a new stake in Southside Bancshares in the fourth quarter worth approximately $216,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Southside Bancshares by 2.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock worth $225,000 after purchasing an additional 158 shares in the last quarter. 43.54% of the stock is currently owned by institutional investors.
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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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