Southside Bancshares Inc. (SBSI) Reaches New 52-Week High at $33.40
Southside Bancshares Inc. (NASDAQ:SBSI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $33.40 and last traded at $33.33, with a volume of 31,986 shares trading hands. The stock had previously closed at $32.73.
Separately, Zacks Investment Research upgraded shares of Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, May 18th.
The firm has a market capitalization of $866.77 million and a PE ratio of 18.28. The stock’s 50 day moving average price is $30.32 and its 200-day moving average price is $26.42.
Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Friday, April 29th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. On average, analysts expect that Southside Bancshares Inc. will post $2.07 earnings per share for the current fiscal year.
In other Southside Bancshares news, EVP Brian K. Mccabe sold 1,100 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $29.50, for a total value of $32,450.00. Following the transaction, the executive vice president now directly owns 14,030 shares of the company’s stock, valued at $413,885. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alton Cade, Jr. sold 1,000 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $30.17, for a total transaction of $30,170.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently added to or reduced their stakes in SBSI. California State Teachers Retirement System raised its position in Southside Bancshares by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 46,964 shares of the company’s stock worth $1,128,000 after buying an additional 900 shares during the last quarter. First Trust Advisors LP raised its position in Southside Bancshares by 33.5% in the fourth quarter. First Trust Advisors LP now owns 51,681 shares of the company’s stock worth $1,241,000 after buying an additional 12,967 shares during the last quarter. California Public Employees Retirement System raised its position in Southside Bancshares by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 91,359 shares of the company’s stock worth $2,194,000 after buying an additional 1,700 shares during the last quarter. Finally, Tributary Capital Management LLC raised its position in Southside Bancshares by 11.3% in the fourth quarter. Tributary Capital Management LLC now owns 261,743 shares of the company’s stock worth $6,287,000 after buying an additional 26,484 shares during the last quarter.
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. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities.
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