FY2019 EPS Estimates for Southside Bancshares, Inc. Increased by Analyst (SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) – Equities researchers at SunTrust Banks raised their FY2019 earnings per share estimates for Southside Bancshares in a research note issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings per share of $2.54 for the year, up from their previous estimate of $2.33.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. BidaskClub lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies started coverage on shares of Southside Bancshares in a research note on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.33.

Shares of Southside Bancshares (NASDAQ SBSI) traded down $0.66 during trading hours on Tuesday, reaching $35.11. 123,399 shares of the company were exchanged, compared to its average volume of 120,080. Southside Bancshares has a 1 year low of $31.20 and a 1 year high of $37.70. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1,040.00, a PE ratio of 18.38 and a beta of 0.76.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, October 27th. The bank reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). The business had revenue of $44.37 million for the quarter, compared to the consensus estimate of $51.00 million. Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%.

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Southside Bancshares by 0.5% during the 2nd quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock valued at $116,987,000 after buying an additional 15,123 shares during the period. Vanguard Group Inc. boosted its stake in shares of Southside Bancshares by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock valued at $60,373,000 after buying an additional 100,282 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Southside Bancshares by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,374,007 shares of the bank’s stock valued at $49,958,000 after buying an additional 75,241 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Southside Bancshares by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock valued at $19,846,000 after buying an additional 23,654 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Southside Bancshares by 4.5% during the 2nd quarter. Northern Trust Corp now owns 539,046 shares of the bank’s stock valued at $18,834,000 after buying an additional 23,090 shares during the period. 43.21% of the stock is owned by institutional investors.

In related news, Director Tony K. Morgan bought 1,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average price of $35.45 per share, with a total value of $35,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of Southside Bancshares stock in a transaction on Friday, December 15th. The shares were sold at an average price of $35.19, for a total transaction of $26,392.50. Following the sale, the executive vice president now directly owns 3,563 shares of the company’s stock, valued at approximately $125,381.97. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.

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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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