Southside Bancshares (NASDAQ:SBSI) Sets New 12-Month High – Should You Buy?

Southside Bancshares, Inc. (NASDAQ:SBSI) hit a new 52-week high on Wednesday . The company traded as high as $36.20 and last traded at $36.12, with a volume of 23498 shares. The stock had previously closed at $32.74.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBSI. Hovde Group upped their price objective 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. StockNews.com downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday.

Southside Bancshares Trading Up 1.4 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $33.32 and a 200-day moving average of $30.48.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The business had revenue of $113.87 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.60 EPS. Research analysts anticipate that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Insider Buying and Selling

In other Southside Bancshares news, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total transaction of $121,242.00. Following the completion of the transaction, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at $2,104,173.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Southside Bancshares news, CEO Lee R. Gibson sold 3,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the transaction, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at $2,104,173.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction 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 transaction, the insider now owns 16,441 shares in the company, valued at $554,226.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,187 shares of company stock valued at $358,487. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Southside Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of Southside Bancshares by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock worth $16,657,000 after acquiring an additional 38,500 shares in the last quarter. ProShare Advisors LLC grew its position in Southside Bancshares by 0.9% in the first quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after acquiring an additional 2,456 shares during the last quarter. AQR Capital Management LLC raised its stake in Southside Bancshares by 95.8% during the second quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after acquiring an additional 116,473 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Southside Bancshares by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock valued at $4,651,000 after purchasing an additional 1,984 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Southside Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 74,250 shares of the bank’s stock valued at $2,482,000 after purchasing an additional 3,752 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

About Southside Bancshares

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.