Bill Few Associates Inc. Acquires Shares of 6,648 Southside Bancshares, Inc. (NASDAQ:SBSI)

Bill Few Associates Inc. acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) in the third quarter, Holdings Channel reports. The fund acquired 6,648 shares of the bank’s stock, valued at approximately $222,000.

A number of other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in Southside Bancshares by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock valued at $16,657,000 after purchasing an additional 38,500 shares during the period. ProShare Advisors LLC boosted its holdings in Southside Bancshares by 0.9% in the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after purchasing an additional 2,456 shares during the period. AQR Capital Management LLC boosted its holdings in Southside Bancshares by 95.8% in the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock valued at $6,574,000 after purchasing an additional 116,473 shares during the period. American Century Companies Inc. lifted its holdings in shares of Southside Bancshares by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after acquiring an additional 1,984 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Southside Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock worth $1,913,000 after acquiring an additional 4,900 shares during the period. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $34.06 on Wednesday. The company has a 50 day moving average of $32.88 and a 200-day moving average of $29.77. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $36.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.03 billion, a PE ratio of 12.66 and a beta of 0.54.

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 analysts’ consensus estimates of $0.64 by $0.17. The business had revenue of $115.74 million during the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.82 EPS. As a group, equities research analysts forecast that Southside Bancshares, Inc. will post 2.96 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio is 53.53%.

Insider Buying and Selling

In related news, insider Jared C. Green sold 864 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the transaction, the insider now directly owns 4,358 shares in the company, valued at $144,990.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jared C. Green sold 864 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the transaction, the insider now directly owns 4,358 shares in the company, valued at $144,990.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the transaction, the insider now owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,890 shares of company stock worth $500,319 in the last three months. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SBSI. Hovde Group upped their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. StockNews.com downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, October 10th.

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.