KBW Reaffirms Their Hold Rating on Southside Bancshares

By Austin Angelo

In a report released yesterday, Brady Gailey from KBW reiterated a Hold rating on Southside Bancshares (NASDAQ: SBSI), with a price target of $38. The company’s shares opened today at $32.32.

According to TipRanks.com, Gailey is a 5-star analyst with an average return of 13.3% and a 77.3% success rate. Gailey covers the Financial sector, focusing on stocks such as Atlantic Capital Bancshares, First Financial Bankshares, and Allegiance Bancshares Inc.

Southside Bancshares has an analyst consensus of Hold, with a price target consensus of $38.

Based on Southside Bancshares’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $55.55 million and quarterly net profit of $14.48 million. In comparison, last year the company earned revenue of $50.46 million and had a net profit of $11.4 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

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Southside Bancshares, Inc. operates as a bank holding company of Southside Bank. The company was founded on August 11, 1982 and is headquartered in Tyler, TX.