Southside Bancshares assumed with a Neutral at Piper Sandler

Piper Sandler assumed coverage of Southside Bancshares (SBSI) with a Neutral rating and $35 price target The firm sees the bank’s shares being “constrained” in the near-term by its asset size. Southside would like to move through $10B in assets, but will need stronger organic growth coupled with acquisitions to get there, the analyst tells investors in a research note.