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

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

Several other brokerages have also issued reports on SBSI. Stephens reduced 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 started coverage on Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating on the stock.

Southside Bancshares Trading Up 1.5 %

Shares of SBSI opened at $26.92 on Tuesday. The stock’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $31.94. The firm has a market capitalization of $818.10 million, a PE ratio of 9.25 and a beta of 0.58. Southside Bancshares has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Hedge Funds Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in SBSI. Sterling Capital Management LLC increased its position in shares of Southside Bancshares by 867.4% in the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock valued at $29,000 after buying an additional 824 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Southside Bancshares by 61.1% in 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 in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Southside Bancshares during the fourth quarter worth about $103,000. FMR LLC lifted its holdings in shares of Southside Bancshares by 226.9% during 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. Finally, Quantbot Technologies LP grew its position in shares of Southside Bancshares by 34.9% in the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock valued at $124,000 after purchasing an additional 1,006 shares during the period. 55.70% of the stock is owned by institutional investors.

About Southside Bancshares

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.