Wall Street Zen Upgrades Southside Bancshares (NYSE:SBSI) to Hold

Wall Street Zen upgraded shares of Southside Bancshares (NYSE:SBSI) from a sell rating to a hold rating in a research report released on Saturday morning.

Southside Bancshares Trading Up 1.9%

Shares of NYSE SBSI opened at $30.66 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.75 and a quick ratio of 0.75. Southside Bancshares has a one year low of $25.85 and a one year high of $38.00. The business’s 50-day simple moving average is $29.47. The firm has a market cap of $926.24 million, a price-to-earnings ratio of 10.87 and a beta of 0.67.

Southside Bancshares (NYSE:SBSI) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. Southside Bancshares had a net margin of 19.07% and a return on equity of 10.59%. The business had revenue of $68.84 million during the quarter, compared to analysts’ expectations of $67.90 million.

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 deposit.