Worth Watching: Could Southside Bancshares, Inc. Lose its Strength? The Stock Reaches 52-Week High

Worth Watching: Could Southside Bancshares, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Southside Bancshares, Inc. (NASDAQ:SBSI) hit a new 52-week high and has $41.66 target or 9.00% above today’s $38.22 share price. The 5 months bullish chart indicates low risk for the $1.01B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $41.66 price target is reached, the company will be worth $90.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.65% or $0.25 during the last trading session, hitting $38.22. About 113,555 shares traded hands or 34.34% up from the average. Southside Bancshares, Inc. (NASDAQ:SBSI) has risen 35.74% since April 28, 2016 and is uptrending. It has outperformed by 29.82% the S&P500.

Analysts await Southside Bancshares, Inc. (NASDAQ:SBSI) to report earnings on February, 3. They expect $0.53 EPS, up 20.45% or $0.09 from last year’s $0.44 per share. SBSI’s profit will be $14.01 million for 18.03 P/E if the $0.53 EPS becomes a reality. After $0.49 actual EPS reported by Southside Bancshares, Inc. for the previous quarter, Wall Street now forecasts 8.16% EPS growth.

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 decreased to 1.06 in Q2 2016. Its down 3.03, from 4.09 in 2016Q1. The ratio dropped, 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.
Ubs Asset Americas accumulated 0% or 19,420 shares. Fuller Thaler Asset Mgmt holds 0% or 1,155 shares in its portfolio. Teachers Advisors Incorporated holds 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 43,455 shares. Blackrock Group Ltd holds 0% or 33,974 shares in its portfolio. Swiss Bancorporation accumulated 46,878 shares or 0% of the stock. Commonwealth Equity Ser Inc owns 17,669 shares or 0% of their US portfolio. Blackrock holds 0% or 6,471 shares in its portfolio. New York State Teachers Retirement has 9,999 shares for 0% of their US portfolio. Barclays Public Lc has 1,710 shares for 0% of their US portfolio. Lsv Asset Management holds 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 34,705 shares. Northern Tru has 285,568 shares for 0% of their US portfolio. Tributary Capital Mngmt Limited Liability Corporation last reported 1.45% of its portfolio in the stock. State Street Corp accumulated 0% or 540,494 shares. Pnc Fincl Serv Grp Incorporated holds 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI) for 3,742 shares. Manufacturers Life Insurance The has invested 0% of its portfolio in Southside Bancshares, Inc. (NASDAQ:SBSI).

Insider Transactions: Since June 2, 2016, the stock had 1 insider buy, and 3 insider sales for $385,734 net activity. $31,890 worth of Southside Bancshares, Inc. (NASDAQ:SBSI) was sold by CADE ALTON JR on Thursday, June 2. 95 shares were bought by Garrett John Robert, worth $3,028 on Thursday, September 1. On Friday, November 11 CALLAN PATRICIA ANN sold $139,400 worth of the stock or 4,000 shares. Carter Tim also sold $62,412 worth of Southside Bancshares, Inc. (NASDAQ:SBSI) on Thursday, August 11.

More notable recent Southside Bancshares, Inc. (NASDAQ:SBSI) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on December 22, 2009, also Globenewswire.com with their article: “Southside Bancshares, Inc. Announces Q3 Earnings Call” published on October 14, 2016, Nasdaq.com published: “Ex-Dividend Reminder: Southside Bancshares, Realogy Holdings and Skyworks …” on November 11, 2016. More interesting news about Southside Bancshares, Inc. (NASDAQ:SBSI) were released by: Globenewswire.com and their article: “Southside Bancshares, Inc. Increases the Cash Dividend and Declares Cash …” published on May 05, 2016 as well as Globenewswire.com‘s news article titled: “Southside Bancshares, Inc. Announces Financial Results for the Three and Nine …” with publication date: October 28, 2016.

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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