Southside Bancshares (NASDAQ:SBSI) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a strong sell rating in a research note published on Wednesday, ValuEngine reports.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Southside Bancshares from a hold rating to a sell rating in a research report on Tuesday. BidaskClub upgraded Southside Bancshares from a sell rating to a hold rating in a research report on Thursday, September 12th.

Southside Bancshares stock opened at $33.80 on Wednesday. The stock has a market cap of $1.13 billion, a PE ratio of 16.02 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. Southside Bancshares has a one year low of $29.28 and a one year high of $35.97. The stock has a fifty day moving average of $33.64 and a 200 day moving average of $33.52.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, July 26th. The bank reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $55.41 million during the quarter, compared to analysts’ expectations of $55.28 million. Southside Bancshares had a return on equity of 10.04% and a net margin of 27.23%. Southside Bancshares’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts predict that Southside Bancshares will post 2.26 EPS for the current fiscal year.

In other news, Director John F. Sammons, Jr. acquired 1,500 shares of Southside Bancshares stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $33.18 per share, for a total transaction of $49,770.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SBSI. Nuveen Asset Management LLC purchased a new stake in Southside Bancshares during the second quarter valued at $3,809,000. Morgan Stanley increased its position in Southside Bancshares by 229.9% in the second quarter. Morgan Stanley now owns 153,533 shares of the bank’s stock worth $4,971,000 after buying an additional 106,999 shares in the last quarter. Fidelity National Financial Inc. purchased a new stake in Southside Bancshares in the second quarter worth about $2,331,000. Bank of America Corp DE increased its position in Southside Bancshares by 172.6% in the second quarter. Bank of America Corp DE now owns 64,608 shares of the bank’s stock worth $2,093,000 after buying an additional 40,907 shares in the last quarter. Finally, Atria Investments LLC purchased a new stake in Southside Bancshares in the second quarter worth about $352,000. Institutional investors own 52.80% of the company’s stock.

Southside Bancshares Company Profile

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 deposit.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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