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 company's 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. It also offers trust services consisting of investment management, administration, and advisory services for individuals, partnerships, and corporations; safe deposit services; and brokerage services. The company operates through 60 branches and 25 motor bank facilities located in Tyler, Longview, Lindale, Gresham, Jacksonville, Bullard, Chandler, Hawkins, Palestine, Gun Barrel City, Athens, Whitehouse, Fort Worth, Arlington, Cleburne, Euless, Flower Mound, Granbury, Grapevine, Irving, Watauga, Weatherford, and Austin; and a network of approximately 70 automated teller machines. Southside Bancshares, Inc. was founded in 1960 and is headquartered in Tyler, Texas.
SBSI is one of my favorite swing traders of all time. I both own a long term position and actively trade it in other accounts. It is almost always in a predictable trading range, currently tradeable between 33.5 and 35.5. If you get caught out, you usually don't have to wait longer than 2 or 3 months to at least breakeven, and will probably collect it's 3%+ divy along the way. Just note the bid/ask spreads are fairly wide...10 to 15 cents. But the mm is pretty good about filling the midpoint limit trades. I consider it a safe long side trade for my purposes. I've never tried the short side and options spreads on this thing are horrendous, so no option plays either.
@Three Eyes Nice one. I love to swing some of these where there's a clear trading range. I had beautiful ones like this in KMI and SKX back in the day, I'll have to add this to my watchlist next time it gets back to $33.50ish
I loved KMI. I also traded it regularly until oil started to collapse, and then I quit...fortunately before they killed the divy!
Yeah, last year or the year before (memory is a blur) it was bouncing perfectly between $17-$19 without flaw. Man that was an easy trade regularly. Added SBSI to my watchlist now as well. I'll receive an alert when it gets down around $33.75.
