Piper Jaffray Starts Southside Bancshares (SBSI) at Neutral

September 22, 2017 4:36 AM EDT
Get Alerts SBSI Hot Sheet
Price: $36.61 --0%

Rating Summary:
    0 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 10
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Piper Jaffray initiates coverage on Southside Bancshares (NASDAQ: SBSI) with a Neutral rating and a price target of $37.00.

Analyst Brett Rabatin sees some general upside to the stock over time citing improving profitability from Op. leverage & management of expenses, solid loan growth aiding NIM and, additional transformation of the franchise profile away from earnings aided by large MBS/higher-cost funding base.

The PT is based off 16x FY 2018 EPS estimate which translates into 2.25x forward TBVPS estimate.

FY 2017 EPS estimate is for $2.07 and FY 2018 EPS estimate is for $2.31.

For an analyst ratings summary and ratings history on Southside Bancshares click here. For more ratings news on Southside Bancshares click here.

Shares of Southside Bancshares closed at $33.81 yesterday.

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