First Trust Advisors LP Grows Holdings in Southside Bancshares, Inc. (SBSI)
First Trust Advisors LP raised its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,258 shares of the bank’s stock after purchasing an additional 5,697 shares during the period. First Trust Advisors LP owned 0.14% of Southside Bancshares worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in SBSI. Creative Planning acquired a new position in Southside Bancshares during the 4th quarter valued at about $2,694,000. Dimensional Fund Advisors LP lifted its position in Southside Bancshares by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,374,007 shares of the bank’s stock valued at $49,958,000 after purchasing an additional 75,241 shares during the period. American Century Companies Inc. lifted its position in Southside Bancshares by 10.8% during the 4th quarter. American Century Companies Inc. now owns 508,586 shares of the bank’s stock valued at $17,129,000 after purchasing an additional 49,670 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Southside Bancshares by 589.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,369 shares of the bank’s stock valued at $1,613,000 after purchasing an additional 37,936 shares during the period. Finally, King Luther Capital Management Corp lifted its position in Southside Bancshares by 40.1% during the 3rd quarter. King Luther Capital Management Corp now owns 118,553 shares of the bank’s stock valued at $4,311,000 after purchasing an additional 33,937 shares during the period. Institutional investors own 43.55% of the company’s stock.
A number of research firms have issued reports on SBSI. BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday. Finally, ValuEngine upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Southside Bancshares has a consensus rating of “Hold” and an average price target of $38.00.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The firm had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million. Southside Bancshares had a net margin of 24.14% and a return on equity of 9.50%. research analysts predict that Southside Bancshares, Inc. will post 2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were given a $0.28 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.21%. Southside Bancshares’s dividend payout ratio is 61.63%.
In other news, CFO Julie Shamburger purchased 3,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $34.88 per share, for a total transaction of $113,360.00. Following the transaction, the chief financial officer now directly owns 14,164 shares of the company’s stock, valued at approximately $494,040.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.20% of the company’s stock.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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