CWM Advisors LLC acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) in the first quarter, Holdings Channel.com reports. The fund acquired 7,763 shares of the bank’s stock, valued at approximately $236,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Southside Bancshares by 174.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 763 shares of the bank’s stock worth $28,000 after purchasing an additional 485 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Southside Bancshares by 29.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,870 shares of the bank’s stock worth $87,000 after purchasing an additional 654 shares in the last quarter. SG Americas Securities LLC acquired a new position in Southside Bancshares during the 4th quarter worth $121,000. Amalgamated Bank acquired a new position in Southside Bancshares during the 4th quarter worth $202,000. Finally, Bank of Montreal Can grew its stake in Southside Bancshares by 26.3% during the 4th quarter. Bank of Montreal Can now owns 5,563 shares of the bank’s stock worth $206,000 after purchasing an additional 1,160 shares in the last quarter. 55.38% of the stock is owned by institutional investors and hedge funds.
In other news, insider John Robert Garrett bought 1,167 shares of Southside Bancshares stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $25.98 per share, with a total value of $30,318.66. Following the acquisition, the insider now owns 15,850 shares of the company’s stock, valued at $411,783. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tony K. Morgan bought 1,000 shares of Southside Bancshares stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average cost of $32.82 per share, with a total value of $32,820.00. Insiders bought a total of 3,573 shares of company stock valued at $99,496 over the last three months. Company insiders own 5.20% of the company’s stock.
Shares of NASDAQ SBSI opened at $26.95 on Friday. The company has a market capitalization of $891.31 million, a price-to-earnings ratio of 15.17 and a beta of 0.56. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $28.63 and a two-hundred day moving average of $33.20. Southside Bancshares, Inc. has a 1 year low of $23.74 and a 1 year high of $37.89.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Tuesday, May 5th. The bank reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.36). The business had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $54.87 million. Southside Bancshares had a return on equity of 7.56% and a net margin of 20.52%. During the same period last year, the firm earned $0.56 earnings per share. As a group, equities research analysts expect that Southside Bancshares, Inc. will post 1.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Wednesday, May 20th. Southside Bancshares’s payout ratio is currently 56.36%.
SBSI has been the subject of several analyst reports. SunTrust Banks lowered their target price on Southside Bancshares from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Tuesday. BidaskClub cut Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, May 7th. Finally, Zacks Investment Research cut Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.
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 deposit.
Featured Story: Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding SBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southside Bancshares, Inc. (NASDAQ:SBSI).
Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.