StockNews.com Upgrades Southside Bancshares (NASDAQ:SBSI) to Hold

Southside Bancshares (NASDAQ:SBSI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts have also issued reports about the company. Raymond James started coverage on Southside Bancshares in a research note on Tuesday, January 14th. They set a “market perform” rating for the company. Stephens reduced their price target on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th.

Southside Bancshares Stock Performance

SBSI stock opened at $27.40 on Tuesday. The firm has a market cap of $832.69 million, a P/E ratio of 9.42 and a beta of 0.58. The stock’s 50 day simple moving average is $29.28 and its 200 day simple moving average is $31.87. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares has a 12-month low of $25.30 and a 12-month high of $38.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its holdings in shares of Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock valued at $29,000 after acquiring an additional 824 shares during the period. GAMMA Investing LLC raised its position in shares of Southside Bancshares by 61.1% during the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after acquiring an additional 507 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Southside Bancshares in the 4th quarter valued at about $103,000. FMR LLC grew its holdings in Southside Bancshares by 226.9% during the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after acquiring an additional 2,382 shares during the period. Finally, Quantbot Technologies LP lifted its stake in Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock valued at $124,000 after buying an additional 1,006 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

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 deposits.