Southside Bancshares, Inc. (SBSI) Stake Raised by Victory Capital Management Inc.
Victory Capital Management Inc. increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,331 shares of the bank’s stock after buying an additional 1,785 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Southside Bancshares worth $640,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Southside Bancshares during the 1st quarter valued at $102,000. US Bancorp DE lifted its holdings in Southside Bancshares by 52.8% during the 1st quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,303 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Southside Bancshares by 12.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after purchasing an additional 576 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Southside Bancshares by 85.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock valued at $189,000 after purchasing an additional 2,498 shares during the last quarter. Finally, Pitcairn Co. acquired a new stake in Southside Bancshares during the 2nd quarter valued at $207,000. 51.45% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the company. BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 price target on shares of Southside Bancshares in a report on Tuesday, August 29th.
In other news, insider Tim Carter sold 7,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $33.95, for a total transaction of $237,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian K. Mccabe sold 1,500 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the transaction, the chief operating officer now directly owns 16,658 shares in the company, valued at approximately $549,714. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.
Shares of Southside Bancshares, Inc. (SBSI) opened at 32.95 on Monday. The firm’s 50-day moving average price is $33.11 and its 200 day moving average price is $33.58. The firm has a market cap of $966.85 million, a P/E ratio of 17.35 and a beta of 0.78. Southside Bancshares, Inc. has a one year low of $30.44 and a one year high of $38.04.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.04). Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. The business had revenue of $44.72 million during the quarter, compared to analysts’ expectations of $50.40 million. Analysts predict that Southside Bancshares, Inc. will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.12 annualized dividend and a yield of 3.40%. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. Southside Bancshares’s payout ratio is currently 59.11%.
Southside Bancshares Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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