Southside Bancshares, Inc. (NASDAQ:SBSI) Stake Cut by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,355 shares of the bank’s stock after selling 460 shares during the period. Inspire Investing LLC’s holdings in Southside Bancshares were worth $413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in shares of Southside Bancshares by 54.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after buying an additional 387 shares during the last quarter. CWM LLC raised its position in shares of Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after purchasing an additional 2,533 shares during the period. EntryPoint Capital LLC raised its position in shares of Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after purchasing an additional 1,195 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Southside Bancshares by 48.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Southside Bancshares during the 1st quarter valued at approximately $233,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI opened at $34.88 on Thursday. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $36.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.06 billion, a PE ratio of 12.97 and a beta of 0.54. The stock has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $29.80.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.17. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. The company had revenue of $115.74 million during the quarter, compared to analysts’ expectations of $64.91 million. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, equities research analysts forecast that Southside Bancshares, Inc. will post 2.96 EPS for the current year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.44 annualized dividend and a yield of 4.13%. Southside Bancshares’s payout ratio is 53.53%.

Insiders Place Their Bets

In other news, insider T L. Arnold, Jr. sold 3,999 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total value of $126,488.37. Following the completion of the transaction, the insider now directly owns 16,441 shares in the company, valued at $520,028.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the completion of the sale, the insider now directly owns 16,441 shares in the company, valued at $520,028.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total value of $157,324.57. Following the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,890 shares of company stock worth $500,319. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBSI has been the topic of several analyst reports. Hovde Group increased their target price on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, October 10th.

Southside Bancshares Company Profile

Southside Bancshares, Inc operates as the 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 deposits.