Brokerages Set $34.50 Target Price for Southside Bancshares, Inc. (NASDAQ:SBSI)

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price target of $34.50 for the company and are expecting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 74 out of 255 based on the ratings given to related companies.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, BidaskClub lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

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

A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its position in shares of Southside Bancshares by 477.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,155 shares of the bank’s stock valued at $37,000 after acquiring an additional 955 shares during the period. Krane Funds Advisors LLC acquired a new stake in Southside Bancshares during the 2nd quarter worth $58,000. US Bancorp DE lifted its holdings in Southside Bancshares by 9.6% during the second quarter. US Bancorp DE now owns 4,288 shares of the bank’s stock worth $139,000 after acquiring an additional 375 shares in the last quarter. Bank of Montreal Can lifted its holdings in Southside Bancshares by 166.3% during the second quarter. Bank of Montreal Can now owns 4,397 shares of the bank’s stock worth $143,000 after acquiring an additional 2,746 shares in the last quarter. Finally, Jefferies Group LLC bought a new position in Southside Bancshares during the second quarter worth about $221,000. 52.99% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SBSI opened at $34.70 on Wednesday. Southside Bancshares has a 1-year low of $29.71 and a 1-year high of $35.97. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $35.00 and its 200-day moving average is $33.70. The stock has a market cap of $1.17 billion, a P/E ratio of 16.45 and a beta of 0.71.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, October 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Southside Bancshares had a net margin of 26.61% and a return on equity of 9.79%. The firm had revenue of $55.29 million during the quarter, compared to the consensus estimate of $56.95 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Southside Bancshares will post 2.26 EPS for the current year.

The firm also recently declared a None dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 26th. Southside Bancshares’s dividend payout ratio (DPR) is 58.77%.

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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