Southside Bancshares Inc

SBSI remains in a Stage 2 advancing uptrend underpinned by sequential higher highs and higher lows. Although price has pulled back below the 9 EMA and 20 EMA and short-term momentum indicators are neutral, the stock continues to hold above rising 50 SMA and 200 SMA. The medium-term bullish bias is intact, but short-term timing is unfavorable. We will stalk for a disciplined pullback into structural support before committing.

• ↑Q2 net income rose 15.4% YoY to $26.8M; EPS $0.90
• ↑New loan production of $293M in Q2; $1.47B pipeline
• ↓Net interest margin fell to 2.90% as funding costs rose