Separately, Zacks Investment Research raised Southside Bancshares from a sell rating to a hold rating in a research note on Saturday, July 27th.
Shares of NASDAQ:SBSI traded up $0.31 on Wednesday, hitting $33.68. The company’s stock had a trading volume of 130,659 shares, compared to its average volume of 81,867. Southside Bancshares has a 12 month low of $29.28 and a 12 month high of $37.32. The firm has a market capitalization of $1.17 billion, a P/E ratio of 15.96 and a beta of 0.75. The company’s 50-day moving average price is $32.61. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.28.
In other news, Director Tony K. Morgan bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $33.01 per share, with a total value of $33,010.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in Southside Bancshares by 477.5% during the second quarter. Advisory Services Network LLC now owns 1,155 shares of the bank’s stock valued at $37,000 after buying an additional 955 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock valued at $221,000 after buying an additional 6,653 shares in the last quarter. United Services Automobile Association bought a new position in Southside Bancshares during the fourth quarter valued at about $236,000. Metropolitan Life Insurance Co. NY boosted its stake in Southside Bancshares by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock valued at $348,000 after buying an additional 8,565 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Southside Bancshares by 3.7% during the second quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the bank’s stock valued at $363,000 after buying an additional 400 shares in the last quarter. 53.29% of the stock is owned by institutional investors and hedge funds.
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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