Momentum Stock Watch: Southside Bancshares, Inc. (SBSI)

Company Profile:

Southside Bancshares, Inc. operates as a 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. The companys loan portfolio comprises consumer loans that include 1-4 family residential loans, home equity loans, home improvement loans, automobile loans, and other installment loans; commercial loans, such as short-term working capital loans for inventory and accounts receivable, short and medium-term loans for equipment or other business capital expansion, commercial real estate loans, and municipal loans; and construction loans for 1-4 family residential and commercial real estate. The company operates through 60 branches and 25 motor bank facilities and a network of approximately 70 automated teller machines. Southside Bancshares, Inc. was founded in 1960 and is headquartered in Tyler, Texas.

Recent News:

The company announced the completion of the merger of Diboll State Bancshares, Inc. with and into Southside and the merger of Diboll’s wholly owned subsidiary, First Bank & Trust East Texas, headquartered in Diboll, Texas, with and into Southside Bank, all effective on November 30, 2017.

It reported net income of $14.5 million for the three months ended September 30, 2017, an increase of $1.6 million, or 12.8%, compared to $12.9 million for the same period in 2016.

The Board of Directors declared a regular quarterly cash dividend of $0.28 per common share. In a separate action, the Board declared a special cash dividend of $0.02 per common share. The combined cash dividend of $0.30 per common share is payable to common stock shareholders of record on November 16, 2017.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

SBSI’s strengths can be seen in its better growth and better profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish cross in Stochastic Oscillator and RSI (14) stands at 48.19 with positive bias. We rate Southside Bancshares, Inc. (SBSI) a STRONG BUY.

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