Southside Bancshares, Inc. (NASDAQ:SBSI) has earned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Analysts have set a 12-month consensus target price of $33.50 for the company and are expecting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Southside Bancshares an industry rank of 190 out of 256 based on the ratings given to its competitors.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. BidaskClub lowered shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Southside Bancshares by 2.7% in the 4th quarter. BlackRock Inc. now owns 4,878,860 shares of the bank’s stock worth $154,903,000 after acquiring an additional 130,535 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Southside Bancshares by 3.2% in the 3rd quarter. Vanguard Group Inc now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after acquiring an additional 54,827 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Southside Bancshares by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after acquiring an additional 54,827 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Southside Bancshares by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,631,651 shares of the bank’s stock valued at $51,805,000 after purchasing an additional 67,337 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Southside Bancshares by 20.0% during the 4th quarter. Handelsbanken Fonder AB now owns 719,787 shares of the bank’s stock valued at $22,853,000 after purchasing an additional 119,787 shares during the last quarter. Institutional investors own 52.82% of the company’s stock.
Shares of NASDAQ SBSI opened at $35.86 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.78 and a quick ratio of 0.78. Southside Bancshares has a 12 month low of $29.28 and a 12 month high of $37.32. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 17.00 and a beta of 0.78.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. The company had revenue of $53.05 million during the quarter, compared to analyst estimates of $54.48 million. Southside Bancshares had a net margin of 28.23% and a return on equity of 10.37%. Southside Bancshares’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Equities research analysts expect that Southside Bancshares will post 2.26 EPS for the current year.
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 deposit.
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