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

Southside Bancshares (NASDAQ:SBSI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, BidAskClub reports.

Several other research firms also recently issued reports on SBSI. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th.

Southside Bancshares stock traded up $0.38 on Wednesday, reaching $36.98. 61,700 shares of the stock were exchanged, compared to its average volume of 93,160. The stock has a market cap of $1.24 billion, a PE ratio of 17.53 and a beta of 0.70. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. Southside Bancshares has a twelve month low of $31.29 and a twelve month high of $37.89. The firm has a fifty day moving average price of $36.28 and a two-hundred day moving average price of $34.28.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, October 25th. The bank reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). The firm had revenue of $55.29 million for the quarter, compared to analyst estimates of $56.95 million. Southside Bancshares had a return on equity of 9.79% and a net margin of 26.61%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Equities analysts anticipate that Southside Bancshares will post 2.24 EPS for the current fiscal year.

In other news, CFO Julie Shamburger sold 1,635 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $34.84, for a total transaction of $56,963.40. Following the transaction, the chief financial officer now owns 17,237 shares in the company, valued at approximately $600,537.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Brian K. Mccabe sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.40, for a total transaction of $42,480.00. Following the transaction, the chief operating officer now owns 16,778 shares in the company, valued at approximately $593,941.20. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. US Bancorp DE increased its stake in Southside Bancshares by 9.6% in the second quarter. US Bancorp DE now owns 4,288 shares of the bank’s stock valued at $139,000 after acquiring an additional 375 shares during the period. Bank of Montreal Can increased its stake in Southside Bancshares by 166.3% in the second quarter. Bank of Montreal Can now owns 4,397 shares of the bank’s stock valued at $143,000 after acquiring an additional 2,746 shares during the period. Jefferies Group LLC bought a new stake in Southside Bancshares in the second quarter valued at about $221,000. Cubist Systematic Strategies LLC bought a new stake in Southside Bancshares in the second quarter valued at about $242,000. Finally, JPMorgan Chase & Co. increased its stake in Southside Bancshares by 13.4% in the second quarter. JPMorgan Chase & Co. now owns 8,808 shares of the bank’s stock valued at $283,000 after acquiring an additional 1,042 shares during the period. Institutional investors own 52.99% 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.

Recommended Story: Growth Stocks

Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.