Shares of Southside Bancshares Inc. (NASDAQ:SBSI) were down 1.1% during mid-day trading on Monday . The stock traded as low as $32.59 and last traded at $32.79, with a volume of 52,849 shares traded. The stock had previously closed at $33.17.

Separately, Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Wednesday, May 18th.

The stock has a market capitalization of $854.71 million and a price-to-earnings ratio of 18.02. The firm’s 50-day moving average is $30.59 and its 200-day moving average is $26.62.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.10. On average, equities analysts expect that Southside Bancshares Inc. will post $2.07 earnings per share for the current fiscal year.

In other news, Director Alton Cade, Jr. sold 1,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $30.17, for a total value of $30,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian K. Mccabe sold 1,100 shares of the business’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 completion of the transaction, the executive vice president now directly owns 14,030 shares of the company’s stock, valued at approximately $413,885. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of SBSI. California State Teachers Retirement System boosted its position in shares of Southside Bancshares by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 46,964 shares of the company’s stock valued at $1,128,000 after buying an additional 900 shares during the period. First Trust Advisors LP boosted its position in shares of Southside Bancshares by 33.5% in the fourth quarter. First Trust Advisors LP now owns 51,681 shares of the company’s stock valued at $1,241,000 after buying an additional 12,967 shares during the period. California Public Employees Retirement System boosted its position in shares of Southside Bancshares by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 91,359 shares of the company’s stock valued at $2,194,000 after buying an additional 1,700 shares during the period. Finally, Tributary Capital Management LLC boosted 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 valued at $6,287,000 after buying an additional 26,484 shares during the period.

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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