Southside Bancshares (NASDAQ:SBSI) Downgraded to Sell Rating by StockNews.com

Southside Bancshares (NASDAQ:SBSI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Several other research firms have also issued reports on SBSI. Stephens lowered their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Raymond James assumed coverage on Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating on the stock.

Southside Bancshares Stock Performance

SBSI opened at $26.55 on Monday. The firm has a fifty day moving average price of $29.91 and a 200 day moving average price of $32.15. Southside Bancshares has a 1 year low of $25.30 and a 1 year high of $38.00. The stock has a market cap of $806.70 million, a P/E ratio of 9.12 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Institutional Trading of Southside Bancshares

Several large investors have recently made changes to their positions in SBSI. FMR LLC lifted its holdings in Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after purchasing an additional 2,382 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Southside Bancshares by 35.6% in the third quarter. BNP Paribas Financial Markets now owns 36,943 shares of the bank’s stock worth $1,235,000 after buying an additional 9,693 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Southside Bancshares during the third quarter worth about $83,000. Kovitz Investment Group Partners LLC purchased a new stake in Southside Bancshares during the 3rd quarter valued at about $276,000. Finally, Jane Street Group LLC raised its holdings in Southside Bancshares by 119.5% in the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock valued at $1,791,000 after acquiring an additional 29,163 shares during the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

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.