Wall Street Zen Downgrades Southside Bancshares (NYSE:SBSI) to Sell

Southside Bancshares (NYSE:SBSI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Southside Bancshares in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Southside Bancshares presently has a consensus rating of “Hold”.

Southside Bancshares Stock Down 0.2%

Shares of NYSE:SBSI opened at $32.24 on Friday. Southside Bancshares has a 52-week low of $25.85 and a 52-week high of $33.96. The company has a market capitalization of $969.33 million, a PE ratio of 14.08 and a beta of 0.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.73 and a current ratio of 0.75. The company has a fifty day moving average of $31.33 and a 200-day moving average of $30.04.

Southside Bancshares (NYSE:SBSI) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.10). Southside Bancshares had a net margin of 15.61% and a return on equity of 10.72%. The firm had revenue of $71.99 million for the quarter.

About Southside Bancshares

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.