Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers 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 one year consensus target price of $33.50 for the company and are predicting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 185 out of 256 based on the ratings given to related companies.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd.

In related news, Director Tony K. Morgan purchased 1,000 shares of Southside Bancshares stock in a transaction dated Thursday, June 6th. The shares were acquired at an average cost of $33.01 per share, with a total value of $33,010.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 1,127 shares of company stock worth $37,429 over the last three months. Insiders own 5.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in SBSI. Chatham Capital Group Inc. grew its holdings in Southside Bancshares by 0.9% during the 1st quarter. Chatham Capital Group Inc. now owns 46,633 shares of the bank’s stock worth $1,550,000 after acquiring an additional 395 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Southside Bancshares by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 22,962 shares of the bank’s stock worth $729,000 after acquiring an additional 505 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Southside Bancshares by 5.2% during the 1st quarter. New York State Teachers Retirement System now owns 12,610 shares of the bank’s stock worth $419,000 after acquiring an additional 626 shares in the last quarter. Texas Permanent School Fund grew its holdings in Southside Bancshares by 4.2% during the 4th quarter. Texas Permanent School Fund now owns 21,628 shares of the bank’s stock worth $687,000 after acquiring an additional 875 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Southside Bancshares by 43.1% during the 4th quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock worth $174,000 after acquiring an additional 1,648 shares in the last quarter. Hedge funds and other institutional investors own 53.35% of the company’s stock.

Shares of NASDAQ:SBSI traded up $0.41 during midday trading on Friday, hitting $32.44. The company’s stock had a trading volume of 82,008 shares, compared to its average volume of 87,835. The business’s 50 day moving average is $32.77. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $1.08 billion, a P/E ratio of 15.37 and a beta of 0.74. Southside Bancshares has a 12-month low of $29.28 and a 12-month high of $37.32.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Southside Bancshares had a net margin of 28.23% and a return on equity of 10.37%. The firm had revenue of $53.05 million for the quarter, compared to the consensus estimate of $54.48 million. During the same period last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Southside Bancshares will post 2.25 EPS for the current year.

Southside Bancshares Company Profile

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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