Southside Bancshares Stock Forecast
Southside Bancshares stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Southside Bancshares stock price gained 3.53% on the last trading day (Friday, 19th Apr 2024), rising from $27.22 to $28.18. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.23% from a day low at $27.08 to a day high of $28.23. The price has risen in 6 of the last 10 days and is up by 1.81% over the past 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 93 thousand shares were bought and sold for approximately $2.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.80% during the next 3 months and, with a 90% probability hold a price between $23.09 and $25.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SBSI Signals & Forecast
The Southside Bancshares stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $27.18 and $28.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 4.80%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Southside Bancshares stock
Southside Bancshares finds support from accumulated volume at $27.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.15 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $26.97 (-4.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SBSI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Southside Bancshares to open at $27.83, and during the day (based on 14 day Average True Range), to move between $27.49 and $28.87, which gives a possible trading interval of +/-$0.691 (+/-2.45%) up or down from last closing price. If Southside Bancshares takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.66 (1.70%) than the support at $27.66 (1.85%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Southside Bancshares will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.750. We will update the financials statements for Southside Bancshares, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.65% in the first trading day after earnings release.
Is Southside Bancshares stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.374 Buy Candidate Upgraded
Predicted Opening Price for Southside Bancshares of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$27.83 ( 1.25%) | $28.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBSI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.97 | 2.82 % | |
R2 | 28.54 | 1.26 % | ||
R1 | 28.27 | 0.304 % | ||
Current price: | 28.18 | |||
Support | S1 | 27.39 | -2.80 % | |
S2 | 27.12 | -3.76 % | ||
S3 | 26.68 | -5.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.94 | 6.25 % | |
R2 | 29.68 | 5.32 % | ||
R1 | 28.66 | 1.70 % | ||
Current price | 28.18 | |||
Support | S1 | 27.66 | -1.85% | |
S2 | 27.61 | -2.02% | ||
S3 | 27.13 | -3.73% |
SBSI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.360 | 1.26% |
2 | Nov 02, 2023 | Nov 21, 2023 | Dec 07, 2023 | $0.370 | 1.22% |
3 | Aug 03, 2023 | Aug 16, 2023 | Sep 01, 2023 | $0.350 | 1.14% |
4 | May 04, 2023 | May 22, 2023 | Jun 06, 2023 | $0.350 | 1.21% |
5 | Feb 02, 2023 | Feb 15, 2023 | Mar 02, 2023 | $0.350 | 0.93% |
FAQ
Click here for our free guide on how to buy Southside Bancshares Stock.