News stories about Southside Bancshares (NASDAQ:SBSI) have been trending positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Southside Bancshares earned a news sentiment score of 0.31 on Accern’s scale. Accern also assigned news stories about the bank an impact score of 50 out of 100, meaning that recent news coverage is somewhat likely to have an effect on the company’s share price in the next few days.
A number of research firms recently commented on SBSI. BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a report on Tuesday, May 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a report on Friday, April 28th.
Shares of Southside Bancshares (NASDAQ:SBSI) traded down 0.46% during midday trading on Monday, hitting $34.77. The company’s stock had a trading volume of 4,327 shares. The company has a 50-day moving average price of $33.78 and a 200 day moving average price of $34.20. Southside Bancshares has a 1-year low of $29.29 and a 1-year high of $38.04. The company has a market cap of $1.02 billion, a P/E ratio of 19.01 and a beta of 0.78.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. The firm had revenue of $44.95 million during the quarter, compared to analyst estimates of $48.40 million. On average, equities research analysts predict that Southside Bancshares will post $2.14 EPS for the current year.
In related news, insider Tim Carter sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $34.76, for a total value of $173,800.00. Following the completion of the sale, the insider now directly owns 39,752 shares of the company’s stock, valued at approximately $1,381,779.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alton Cade, Jr. sold 2,950 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.31, for a total value of $104,164.50. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.
About Southside Bancshares
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. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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