Southside Bancshares, Inc. (NASDAQ:SBSI) Position Increased by Cwm LLC

Cwm LLC raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 50.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,673 shares of the bank’s stock after buying an additional 1,574 shares during the period. Cwm LLC’s holdings in Southside Bancshares were worth $156,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Southside Bancshares by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock worth $16,657,000 after acquiring an additional 38,500 shares during the last quarter. ProShare Advisors LLC increased its stake in Southside Bancshares by 0.9% in the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock worth $7,781,000 after purchasing an additional 2,456 shares in the last quarter. AQR Capital Management LLC increased its stake in Southside Bancshares by 95.8% in the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after purchasing an additional 116,473 shares in the last quarter. American Century Companies Inc. raised its holdings in Southside Bancshares by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after buying an additional 1,984 shares during the period. Finally, Empowered Funds LLC lifted its stake in Southside Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after buying an additional 4,900 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SBSI shares. Hovde Group increased their target price on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th.

Insiders Place Their Bets

In other news, CFO Julie Shamburger sold 5,360 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the transaction, the chief financial officer now owns 24,327 shares in the company, valued at approximately $852,174.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the transaction, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares 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 sale, the insider now directly owns 16,441 shares in the company, valued at $520,028.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,890 shares of company stock valued at $500,319 in the last three months. Company insiders own 5.90% of the company’s stock.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI opened at $33.56 on Thursday. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $36.10. The business’s 50-day moving average price is $33.26 and its two-hundred day moving average price is $30.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $1.02 billion, a P/E ratio of 12.48 and a beta of 0.54.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. The business had revenue of $115.74 million for the quarter, compared to analyst estimates of $64.91 million. During the same quarter in the prior year, the firm posted $0.82 EPS. Analysts anticipate that Southside Bancshares, Inc. will post 2.96 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio (DPR) is currently 53.53%.

About Southside Bancshares

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.