StockNews.com Downgrades Southside Bancshares (NASDAQ:SBSI) to Sell

Southside Bancshares (NASDAQ:SBSI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Separately, Hovde Group increased their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Southside Bancshares Price Performance

NASDAQ:SBSI opened at $32.13 on Tuesday. The stock has a market cap of $973.80 million, a P/E ratio of 11.60 and a beta of 0.55. Southside Bancshares has a one year low of $25.30 and a one year high of $36.10. The company has a fifty day moving average price of $33.28 and a 200 day moving average price of $30.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.78.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts anticipate that Southside Bancshares will post 2.96 earnings per share for the current year.

Insider Activity

In other news, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the completion of the transaction, the insider now owns 16,441 shares in the company, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the sale, the insider now owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider T L. Arnold, Jr. sold 3,999 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the sale, the insider now directly owns 16,441 shares in the company, valued at approximately $520,028.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Southside Bancshares

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. CWM LLC grew its holdings in Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after acquiring an additional 2,533 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Southside Bancshares by 48.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Bill Few Associates Inc. bought a new stake in Southside Bancshares during the 3rd quarter worth about $222,000. Institutional investors own 55.70% of the company’s stock.

About Southside Bancshares

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 deposits.