Southside Bancshares, Inc. (NASDAQ:SBSI) – Equities researchers at SunTrust Banks boosted their FY2019 EPS estimates for shares of Southside Bancshares in a research report issued on Monday. SunTrust Banks analyst M. Young now anticipates that the bank will earn $2.54 per share for the year, up from their prior forecast of $2.33.

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

Other research analysts have also issued reports about the company. Piper Jaffray Companies began coverage on Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price target on the stock. Zacks Investment Research upgraded Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Saturday. BidaskClub upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 price objective on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Finally, ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.33.

Southside Bancshares (NASDAQ:SBSI) traded up $0.26 during trading hours on Tuesday, hitting $35.05. The stock had a trading volume of 157,400 shares, compared to its average volume of 129,910. Southside Bancshares has a 1-year low of $30.44 and a 1-year high of $37.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $1,030.00, a price-to-earnings ratio of 18.35 and a beta of 0.76.

A number of institutional investors have recently modified their holdings of SBSI. Catalyst Capital Advisors LLC raised its stake in Southside Bancshares by 111.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock worth $138,000 after buying an additional 2,002 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in Southside Bancshares during the 3rd quarter worth $204,000. Piedmont Investment Advisors LLC acquired a new stake in Southside Bancshares during the 2nd quarter worth $205,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after purchasing an additional 158 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Southside Bancshares in the 3rd quarter valued at about $255,000. 43.21% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Michael J. Bosworth sold 4,512 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $33.94, for a total transaction of $153,137.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter M. Boyd sold 750 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $35.19, for a total value of $26,392.50. Following the sale, the executive vice president now directly owns 3,563 shares in the company, 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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