Southside Bancshares, Inc. (NASDAQ:SBSI) Stock Position Raised by Inspire Investing LLC

Inspire Investing LLC boosted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,815 shares of the bank’s stock after purchasing an additional 538 shares during the period. Inspire Investing LLC’s holdings in Southside Bancshares were worth $354,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after acquiring an additional 387 shares in the last quarter. CWM LLC lifted its position in shares of Southside Bancshares by 447.5% in the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after purchasing an additional 2,533 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Southside Bancshares by 57.0% in the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after purchasing an additional 1,195 shares in the last quarter. Commerce Bank acquired a new stake in shares of Southside Bancshares during the fourth quarter worth approximately $202,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Southside Bancshares during the first quarter valued at approximately $233,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Price Performance

Shares of SBSI opened at $34.00 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $1.03 billion, a PE ratio of 12.64 and a beta of 0.54. The firm’s 50 day moving average price is $32.82 and its 200 day moving average price is $29.27. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $36.10.

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

Southside Bancshares Dividend Announcement

The business also recently declared 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 4.24%. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.53%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SBSI shares. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group lifted their price objective on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Insider Activity

In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the sale, the chief financial officer now owns 24,327 shares of the company’s stock, valued at $852,174.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the sale, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,890 shares of company stock valued at $500,319. 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.