Bill Few Associates Inc. Invests $222,000 in Southside Bancshares, Inc. (NASDAQ:SBSI)

Bill Few Associates Inc. acquired a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,648 shares of the bank’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Southside Bancshares by 54.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after acquiring an additional 387 shares during the period. CWM LLC raised its holdings in shares of Southside Bancshares by 447.5% during the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after acquiring an additional 2,533 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Southside Bancshares by 57.0% during the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after acquiring an additional 1,195 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Southside Bancshares by 48.3% during the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after acquiring an additional 1,643 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Southside Bancshares during the first quarter worth $233,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Southside Bancshares Stock Up 2.0 %

Shares of SBSI stock opened at $34.06 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $36.10. The firm’s fifty day moving average price is $32.88 and its two-hundred day moving average price is $29.77. The firm has a market capitalization of $1.03 billion, a P/E ratio of 12.66 and a beta of 0.54.

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

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders 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 dividend yield of 4.23%. Southside Bancshares’s dividend payout ratio is presently 53.53%.

Insider Transactions at Southside Bancshares

In other news, insider Jared C. Green sold 864 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the transaction, the insider now directly owns 4,358 shares in the company, valued at $144,990.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider T L. Arnold, Jr. sold 3,999 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jared C. Green sold 864 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the transaction, the insider now owns 4,358 shares in the company, valued at $144,990.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,890 shares of company stock worth $500,319 in the last ninety days. Insiders own 5.90% of the company’s stock.

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.