BidaskClub Lowers Southside Bancshares (SBSI) to Sell

BidaskClub lowered shares of Southside Bancshares (NASDAQ:SBSI) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other equities analysts also recently commented on SBSI. Zacks Investment Research upgraded shares of Southside Bancshares from a sell rating to a hold rating in a report on Saturday, August 26th. Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a report on Friday, September 22nd. They issued a neutral rating and a $37.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $37.00 price objective on shares of Southside Bancshares in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Southside Bancshares from a hold rating to a buy rating in a report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Southside Bancshares has a consensus rating of Hold and an average price target of $37.00.

Southside Bancshares (SBSI) opened at $34.64 on Thursday. The firm has a market cap of $1,020.00, a price-to-earnings ratio of 18.17 and a beta of 0.76. Southside Bancshares has a fifty-two week low of $31.20 and a fifty-two week high of $38.59. 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 (NASDAQ:SBSI) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. The company had revenue of $44.37 million during the quarter, compared to analyst estimates of $51.00 million. analysts anticipate that Southside Bancshares will post 1.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.23%. Southside Bancshares’s payout ratio is presently 58.64%.

In other news, Director Michael J. Bosworth sold 4,512 shares of the business’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hancock Holding Co. lifted its position in Southside Bancshares by 2.5% during the second quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock worth $8,699,000 after purchasing an additional 6,074 shares during the period. Walthausen & Co. LLC lifted its position in Southside Bancshares by 2.1% during the second quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock worth $14,756,000 after purchasing an additional 8,556 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Southside Bancshares by 589.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 44,369 shares of the bank’s stock worth $1,613,000 after purchasing an additional 37,936 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Southside Bancshares by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock worth $4,251,000 after purchasing an additional 4,254 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Southside Bancshares during the second quarter worth about $318,000. 43.30% of the stock is owned by institutional investors and hedge funds.

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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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