Hodges Capital Management Inc. Boosts Position in Southside Bancshares, Inc. (SBSI)
Hodges Capital Management Inc. boosted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,195 shares of the bank’s stock after buying an additional 2,019 shares during the period. Hodges Capital Management Inc.’s holdings in Southside Bancshares were worth $880,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Southside Bancshares by 5.0% in the fourth quarter. AQR Capital Management LLC now owns 9,678 shares of the bank’s stock worth $365,000 after buying an additional 465 shares in the last quarter. Oxford Asset Management bought a new position in shares of Southside Bancshares during the first quarter worth approximately $746,000. Victory Capital Management Inc. bought a new position in shares of Southside Bancshares during the first quarter worth approximately $555,000. Fisher Asset Management LLC increased its position in shares of Southside Bancshares by 42.5% in the first quarter. Fisher Asset Management LLC now owns 57,277 shares of the bank’s stock worth $1,923,000 after buying an additional 17,081 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Southside Bancshares during the first quarter worth approximately $480,000. 51.41% of the stock is owned by institutional investors.
Southside Bancshares, Inc. (SBSI) opened at 33.55 on Thursday. The firm has a market capitalization of $984.46 million, a P/E ratio of 17.67 and a beta of 0.78. Southside Bancshares, Inc. has a 12 month low of $29.93 and a 12 month high of $38.04. The stock’s 50 day moving average price is $34.77 and its 200-day moving average price is $33.89.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.04. Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. The business had revenue of $44.72 million for the quarter, compared to analyst estimates of $50.40 million. On average, analysts forecast that Southside Bancshares, Inc. will post $2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, August 15th. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.27. Southside Bancshares’s dividend payout ratio (DPR) is 57.52%.
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SBSI has been the subject of a number of analyst reports. BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research raised Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, May 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price objective on shares of Southside Bancshares in a research report on Friday, April 28th.
In other Southside Bancshares news, Director Alton Cade, Jr. sold 2,950 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.31, for a total transaction of $104,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim Carter sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.95, for a total value of $237,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,950 shares of company stock valued at $515,615. 17.20% of the stock is owned by insiders.
About Southside Bancshares
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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