Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Southside Bancshares Inc shares valued at $450,932 were sold by GIBSON LEE R on Mar 04 ’24. At $30.27 per share, GIBSON LEE R sold 14,897 shares. The insider’s holdings dropped to 56,491 shares worth approximately $1.51 million following the completion of this transaction.
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Also, BUIE HERBERT C purchased 1,990 shares, netting a total of over 64,715 in proceeds. Following the buying of shares at $32.52 each, the insider now holds 407,501 shares.
Before that, MCCABE BRIAN K had sold 2,648 shares from its account. In a trade valued at $78,381, the COO traded Southside Bancshares Inc shares for $29.60 each. Upon closing the transaction, the insider’s holdings decreased to 2,648 shares, worth approximately $0.35 million.
As published in a research note from Hovde Group on May 09, 2024, Southside Bancshares Inc [SBSI] has been retained to a Market perform and the price target has been revised to $31. Analysts at Stephens started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid December. As of July 26, 2021, Hovde Group has reiterated its “Market perform” rating for SBSI. Earlier on September 22, 2017, Piper Jaffray initiated its rating. Their recommendation was “a Neutral” for SBSI stock.
Analyzing SBSI Stock Performance
During the last five days, there has been a surge of approximately 1.14%. Over the course of the year, Southside Bancshares Inc shares have dropped approximately -14.66%. Shares of the company reached a 52-week high of $33.75 on 01/29/24 and a 52-week low of $25.30 on 06/17/24. A 50-day SMA is recorded $26.96, while a 200-day SMA reached $28.61. Nevertheless, trading volume fell to 50030.0 shares from 79500.0 shares the previous day.
Support And Resistance Levels for Southside Bancshares Inc (SBSI)
According to the 24-hour chart, there is a support level at 26.55, which, if violated, would cause prices to drop to 26.36. In the upper region, resistance lies at 27.10. The next price resistance is at 27.46. RSI (Relative Strength Index) is 51.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.61, which suggests the price will decrease in the coming days. Percent R is at 40.42%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
