Fintel reports that on January 14, 2025, Raymond James initiated coverage of Southside Bancshares (NYSE:SBSI) with a Market Perform recommendation.
Analyst Price Forecast Suggests 23.36% Upside
As of December 23, 2024, the average one-year price target for Southside Bancshares is $38.76/share. The forecasts range from a low of $36.36 to a high of $42.00. The average price target represents an increase of 23.36% from its latest reported closing price of $31.42 / share.
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The projected annual revenue for Southside Bancshares is 299MM, an increase of 22.39%. The projected annual non-GAAP EPS is 3.43.
What is the Fund Sentiment?
There are 406 funds or institutions reporting positions in Southside Bancshares. This is an increase of 15 owner(s) or 3.84% in the last quarter. Average portfolio weight of all funds dedicated to SBSI is 0.06%, an increase of 7.00%. Total shares owned by institutions increased in the last three months by 19.26% to 22,422K shares. 
The put/call ratio of SBSI is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,807K shares representing 5.96% ownership of the company. In its prior filing, the firm reported owning 1,860K shares , representing a decrease of 2.94%. The firm increased its portfolio allocation in SBSI by 5.56% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 914K shares representing 3.02% ownership of the company. In its prior filing, the firm reported owning 913K shares , representing an increase of 0.12%. The firm increased its portfolio allocation in SBSI by 13.86% over the last quarter.
IWM - iShares Russell 2000 ETF holds 760K shares representing 2.51% ownership of the company. In its prior filing, the firm reported owning 681K shares , representing an increase of 10.38%. The firm increased its portfolio allocation in SBSI by 16.55% over the last quarter.
Geode Capital Management holds 672K shares representing 2.22% ownership of the company. In its prior filing, the firm reported owning 669K shares , representing an increase of 0.46%. The firm decreased its portfolio allocation in SBSI by 41.21% over the last quarter.
Renaissance Technologies holds 518K shares representing 1.71% ownership of the company. In its prior filing, the firm reported owning 603K shares , representing a decrease of 16.42%. The firm decreased its portfolio allocation in SBSI by 7.79% over the last quarter.
Southside Bancshares Background Information
(This description is provided by the company.)
Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $7.19 billion in assets as of September 30, 2020. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 57 branches and a network of 79 ATMs/ITMs throughout East Texas, Southeast Texas, Dallas/Fort Worth and Austin. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services and an array of online and mobile services.
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