Southside Bancshares, Inc. (SBSI) Given $37.25 Consensus Price Target by Brokerages
Southside Bancshares, Inc. (NASDAQ:SBSI) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price objective of $37.25 for the company and are anticipating that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 200 out of 265 based on the ratings given to its competitors.
SBSI has been the subject of several recent research reports. BidaskClub lowered shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 price target on shares of Southside Bancshares in a research report on Tuesday, August 29th. Piper Jaffray Companies initiated coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price target for the company. Finally, ValuEngine upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday.
In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $33.94, for a total value of $153,137.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian K. Mccabe sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $33.00, for a total transaction of $49,500.00. Following the completion of the sale, the chief operating officer now directly owns 16,658 shares of the company’s stock, valued at $549,714. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC lifted its holdings in Southside Bancshares by 111.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,002 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in Southside Bancshares in the 3rd quarter valued at about $204,000. Piedmont Investment Advisors LLC acquired a new stake in Southside Bancshares in the 2nd quarter valued at about $205,000. Pitcairn Co. acquired a new stake in Southside Bancshares in the 2nd quarter valued at about $207,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in 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 acquiring an additional 158 shares during the last quarter. 51.44% of the stock is owned by institutional investors.
Southside Bancshares (NASDAQ SBSI) opened at $34.46 on Thursday. The company has a market cap of $1,268.66, a PE ratio of 19.03 and a beta of 0.76. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.56. Southside Bancshares has a 12-month low of $31.20 and a 12-month high of $38.83.
Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). The firm 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%. research analysts expect that Southside Bancshares will post 1.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Wednesday, November 15th. Southside Bancshares’s payout ratio is currently 58.74%.
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About Southside Bancshares
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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