Southside Bancshares, Inc. (SBSI) Shares Bought by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 111.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,799 shares of the bank’s stock after acquiring an additional 2,002 shares during the period. Catalyst Capital Advisors LLC’s holdings in Southside Bancshares were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Southside Bancshares by 52,413.5% in the first quarter. BlackRock Inc. now owns 3,333,035 shares of the bank’s stock valued at $111,890,000 after buying an additional 3,326,688 shares during the last quarter. Vanguard Group Inc. raised its holdings in Southside Bancshares by 26.7% during the first quarter. Vanguard Group Inc. now owns 1,627,636 shares of the bank’s stock worth $54,640,000 after purchasing an additional 343,015 shares in the last quarter. State Street Corp raised its holdings in Southside Bancshares by 37.0% during the first quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after purchasing an additional 246,458 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Southside Bancshares by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,298,766 shares of the bank’s stock worth $45,379,000 after purchasing an additional 82,423 shares in the last quarter. Finally, Tributary Capital Management LLC raised its holdings in Southside Bancshares by 14.6% during the second quarter. Tributary Capital Management LLC now owns 526,074 shares of the bank’s stock worth $18,381,000 after purchasing an additional 67,093 shares in the last quarter. Institutional investors own 51.70% of the company’s stock.
Several research analysts recently issued reports on SBSI shares. BidaskClub cut shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 target price on shares of Southside Bancshares in a research report on Tuesday, August 29th. Finally, Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 target price on the stock.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, October 27th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. The company had revenue of $44.37 million for the quarter, compared to analyst estimates of $51.00 million. sell-side analysts predict that Southside Bancshares, Inc. will post 1.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.23%. Southside Bancshares’s dividend payout ratio is presently 58.74%.
In other news, COO Brian K. Mccabe sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 16,658 shares in the company, valued at $549,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Bosworth sold 4,512 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $33.94, for a total transaction of $153,137.28. The disclosure for this sale can be found here. 17.20% of the stock is owned by corporate insiders.
Southside Bancshares Company 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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