The stock of Southside Bancshares, Inc. (NASDAQ:SBSI) reached all time high today, Nov, 10 and still has $55.90 target or 58.00% above today’s $35.38 share price. This indicates more upside for the $973.12M company. This technical setup was reported by Barchart.com. If the $55.90 PT is reached, the company will be worth $564.41 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 44,805 shares traded hands. Southside Bancshares, Inc. (NASDAQ:SBSI) has risen 36.87% since April 8, 2016 and is uptrending. It has outperformed by 31.22% the S&P500.
Southside Bancshares, Inc. (NASDAQ:SBSI) Ratings Coverage
Out of 2 analysts covering Southside Bancshares (NASDAQ:SBSI), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Southside Bancshares has been the topic of 2 analyst reports since July 28, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Southside Bancshares Corp., through its subsidiary banks, is primarily engaged in commercial banking and providing trust services. Southside’s subsidiary banks are engaged in the general banking business of accepting funds for deposit, making loans, renting safe deposit boxes and performing such other banking services as are usual and customary in banks of similar size and character. All of the subsidiary banks offer real estate, commercial and consumer loans.”
Insitutional Activity: The institutional sentiment increased to 4.09 in 2016 Q2. Its up 2.66, from 1.43 in 2016Q1. The ratio increased, as 4 funds sold all Southside Bancshares, Inc. shares owned while 18 reduced positions. 12 funds bought stakes while 78 increased positions. They now own 22.49 million shares or 107.16% more from 10.86 million shares in 2016Q1.
American Century Companies Inc accumulated 482,014 shares or 0.02% of the stock. Qs Investors Limited Liability accumulated 1,212 shares or 0% of the stock. Parametric Portfolio Associate has 0% invested in the company for 28,085 shares. Moreover, Us National Bank De has 0% invested in Southside Bancshares, Inc. (NASDAQ:SBSI) for 2,766 shares. Independent Portfolio Consultants, a Florida-based fund reported 27,701 shares. Clover Partners Ltd Partnership holds 0.77% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 63,000 shares. Catalyst Advsrs Limited Liability Co owns 17,010 shares or 0.1% of their US portfolio. Louisiana State Employees Retirement System, a Louisiana-based fund reported 10,799 shares. Invesco Ltd, a Georgia-based fund reported 56,298 shares. Putnam Invs Limited Liability Corp has 0.01% invested in the company for 172,182 shares. Morgan Stanley has 20,287 shares for 0% of their US portfolio. Voya Invest Management Limited Liability Corp holds 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 16,369 shares. South Texas Money Management Limited holds 0.06% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 35,509 shares. Atwood Palmer has 0% invested in the company for 342 shares. Envestnet Asset has invested 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI).
Insider Transactions: Since June 2, 2016, the stock had 2 insider purchases, and 2 sales for $88,292 net activity. 2,000 Southside Bancshares, Inc. (NASDAQ:SBSI) shares with value of $62,412 were sold by Carter Tim. Garrett John Robert bought 94 shares worth $2,982. On Thursday, June 2 the insider CADE ALTON JR sold $31,890.
More recent Southside Bancshares, Inc. (NASDAQ:SBSI) news were published by: Globenewswire.com which released: “Southside Bancshares, Inc. Increases the Cash Dividend and Declares Special …” on November 03, 2016. Also Globenewswire.com published the news titled: “Southside Bancshares, Inc. Increases the Cash Dividend and Declares Cash …” on May 05, 2016. Globenewswire.com‘s news article titled: “Southside Bancshares, Inc. Announces Q3 Earnings Call” with publication date: October 14, 2016 was also an interesting one.
SBSI Company Profile
Southside Bancshares, Inc. (Southside), incorporated on August 11, 1982, is a bank holding firm for Southside Bank (the Bank). The Firm is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. The Firm operates through approximately 60 banking centers, 20 of which are located in grocery stores, and 25 motor bank facilities. The Company’s services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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