Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 73.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,801 shares of the bank’s stock after acquiring an additional 25,350 shares during the period. Thrivent Financial for Lutherans owned approximately 0.20% of Southside Bancshares worth $1,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of 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 during the period. CWM LLC grew its holdings in shares of Southside Bancshares by 447.5% in the 2nd 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. Point72 Asset Management L.P. grew its holdings in shares of Southside Bancshares by 48.3% in the 2nd 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. Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares in the 3rd quarter worth approximately $222,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Southside Bancshares during the 3rd quarter valued at $255,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Price Performance

Shares of NASDAQ:SBSI opened at $35.21 on Friday. The business’s fifty day moving average price is $33.96 and its two-hundred day moving average price is $31.29. The stock has a market cap of $1.07 billion, a PE ratio of 12.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same quarter last year, the company posted $0.60 EPS. On average, analysts forecast that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, November 21st. Southside Bancshares’s dividend payout ratio is presently 51.99%.

Analysts Set New Price Targets

Separately, StockNews.com cut Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In related news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the transaction, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suni M. Davis sold 2,220 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total value of $79,920.00. Following the completion of the transaction, the insider now directly owns 9,202 shares in the company, valued at $331,272. This trade represents a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% 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.