Southside Bancshares Inc. (SBSI) Hits New 1-Year High at $33.40
Southside Bancshares Inc. (NASDAQ:SBSI)’s share price reached 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 changing 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 target price for the company in a report on Wednesday, May 18th.
The firm has a 50-day moving average price of $30.49 and a 200 day moving average price of $26.53. The stock has a market capitalization of $869.65 million and a P/E ratio of 18.34.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.10. Equities research analysts anticipate that Southside Bancshares Inc. will post $2.07 earnings per share for the current year.
In other Southside Bancshares news, EVP Brian K. Mccabe sold 1,100 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $413,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alton Cade, Jr. sold 1,000 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was 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.
A number of institutional investors recently modified their holdings of SBSI. Tributary Capital Management LLC increased its position in shares of 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 in the last quarter. First Trust Advisors LP increased 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 in the last quarter. California Public Employees Retirement System increased 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 in the last quarter. Finally, California State Teachers Retirement System increased 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 in 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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