Solutions 4 Wealth Ltd Takes Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Solutions 4 Wealth Ltd purchased a new stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,242 shares of the bank’s stock, valued at approximately $759,000. Southside Bancshares comprises approximately 2.5% of Solutions 4 Wealth Ltd’s holdings, making the stock its 13th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in SBSI. Bill Few Associates Inc. acquired a new position in shares of Southside Bancshares in the 4th quarter valued at $203,000. SG Americas Securities LLC acquired a new position in Southside Bancshares in the 3rd quarter worth about $190,000. Los Angeles Capital Management LLC acquired a new stake in shares of Southside Bancshares during the 3rd quarter valued at about $258,000. Alps Advisors Inc. bought a new position in shares of Southside Bancshares during the 3rd quarter valued at $334,000. Finally, Dark Forest Capital Management LP bought a new position in Southside Bancshares during the third quarter valued at about $409,000. Institutional investors own 55.70% of the company’s stock.

Insiders Place Their Bets

In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the sale, the chief executive officer now owns 56,491 shares of the company’s stock, valued at approximately $1,709,982.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock traded up $0.52 during trading on Thursday, reaching $27.57. The company’s stock had a trading volume of 71,499 shares, compared to its average volume of 129,599. The business’s fifty day moving average price is $28.13 and its 200-day moving average price is $29.21. The firm has a market cap of $834.82 million, a price-to-earnings ratio of 10.06 and a beta of 0.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.76 and a current ratio of 0.73. Southside Bancshares, Inc. has a one year low of $25.38 and a one year high of $34.40.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Thursday, April 25th. The bank reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.04). Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $67.10 million. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, equities research analysts predict that Southside Bancshares, Inc. will post 2.74 earnings per share for the current year.

Southside Bancshares Profile

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.