Cwm LLC Boosts Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Cwm LLC grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 50.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,673 shares of the bank’s stock after purchasing an additional 1,574 shares during the quarter. Cwm LLC’s holdings in Southside Bancshares were worth $156,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake 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 buying an additional 387 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Southside Bancshares by 57.0% in the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock valued at $96,000 after buying an additional 1,195 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Southside Bancshares by 48.3% in the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock valued at $139,000 after buying an additional 1,643 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Southside Bancshares in the first quarter valued at approximately $233,000. Finally, Denali Advisors LLC acquired a new position in Southside Bancshares during the first quarter worth $266,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Price Performance

SBSI opened at $33.56 on Thursday. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $36.10. The company’s 50 day simple moving average is $33.26 and its 200 day simple moving average is $30.05. The stock has a market capitalization of $1.02 billion, a PE ratio of 12.48 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.17. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. The company had revenue of $115.74 million during the quarter, compared to the consensus estimate of $64.91 million. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, sell-side analysts expect that Southside Bancshares, Inc. will post 2.96 EPS for the current year.

Southside Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

SBSI has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Hovde Group raised their target price on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Insider Activity at Southside Bancshares

In related news, insider T L. Arnold, Jr. sold 3,999 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the completion of the sale, the insider now directly owns 16,441 shares of the company’s stock, valued at $520,028.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider T L. Arnold, Jr. sold 3,999 shares of the stock in a transaction dated 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 owns 16,441 shares of the company’s stock, valued at $520,028.83. 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, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value 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 $852,174.81. This trade 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 valued at $500,319 over the last ninety days. Corporate 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.