Southside Bancshares (NASDAQ:SBSI) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Southside Bancshares (NASDAQ:SBSI) from a sell rating to a strong sell rating in a report published on Wednesday, ValuEngine reports.

A number of other brokerages have also recently commented on SBSI. BidaskClub upgraded Southside Bancshares from a sell rating to a hold rating in a research report on Thursday, September 12th. Zacks Investment Research cut Southside Bancshares from a hold rating to a sell rating in a research report on Tuesday.

Shares of NASDAQ SBSI opened at $33.41 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. Southside Bancshares has a 52 week low of $29.28 and a 52 week high of $35.97. The stock has a market capitalization of $1.15 billion, a P/E ratio of 15.83 and a beta of 0.70. The stock’s fifty day moving average is $33.62 and its 200 day moving average is $33.50.



Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, July 26th. The bank reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Southside Bancshares had a return on equity of 10.04% and a net margin of 27.23%. The company had revenue of $55.41 million for the quarter, compared to analysts’ expectations of $55.28 million. During the same quarter last year, the business earned $0.57 earnings per share. Southside Bancshares’s revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that Southside Bancshares will post 2.26 earnings per share for the current year.

In related news, Director John F. Sammons, Jr. purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $33.18 per share, for a total transaction of $49,770.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Southside Bancshares by 1.6% in the second quarter. Invesco Ltd. now owns 919,627 shares of the bank’s stock valued at $29,778,000 after acquiring an additional 14,343 shares during the last quarter. Northern Trust Corp grew its position in Southside Bancshares by 2.0% in the second quarter. Northern Trust Corp now owns 607,324 shares of the bank’s stock valued at $19,665,000 after acquiring an additional 12,058 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Southside Bancshares by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 185,879 shares of the bank’s stock valued at $6,019,000 after acquiring an additional 3,830 shares during the last quarter. Morgan Stanley grew its position in Southside Bancshares by 229.9% in the second quarter. Morgan Stanley now owns 153,533 shares of the bank’s stock valued at $4,971,000 after acquiring an additional 106,999 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Southside Bancshares in the second quarter valued at about $3,809,000. Hedge funds and other institutional investors own 52.80% 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 deposit.

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