Chatham Capital Group Inc. lifted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 60.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 40,331 shares of the bank’s stock after purchasing an additional 15,175 shares during the period. Chatham Capital Group Inc.’s holdings in Southside Bancshares were worth $1,401,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Dallas Securities Inc. purchased a new stake in Southside Bancshares in the 4th quarter worth $126,000. Advisor Group Inc. lifted its stake in Southside Bancshares by 87.7% in the 4th quarter. Advisor Group Inc. now owns 3,985 shares of the bank’s stock worth $135,000 after purchasing an additional 1,862 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Southside Bancshares in the 4th quarter worth $216,000. Teacher Retirement System of Texas purchased a new stake in Southside Bancshares in the 4th quarter worth $323,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Southside Bancshares in the 4th quarter worth $438,000. Institutional investors own 43.08% of the company’s stock.
Shares of SBSI stock opened at $33.90 on Friday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 17.94 and a beta of 0.75. Southside Bancshares, Inc. has a 52 week low of $33.48 and a 52 week high of $33.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 0.65.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Tuesday, May 1st. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.11). The business had revenue of $56.77 million for the quarter, compared to analysts’ expectations of $56.44 million. Southside Bancshares had a net margin of 23.43% and a return on equity of 8.91%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. equities analysts expect that Southside Bancshares, Inc. will post 2.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Thursday, May 24th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.54%. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, May 23rd. Southside Bancshares’s dividend payout ratio is currently 59.26%.
Several brokerages have commented on SBSI. Zacks Investment Research cut shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. BidaskClub upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Finally, ValuEngine upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Southside Bancshares has a consensus rating of “Hold” and an average target price of $38.00.
In other Southside Bancshares news, CFO Julie Shamburger bought 3,250 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were purchased 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 owns 14,164 shares of the company’s stock, valued at $494,040.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 3,470 shares of company stock worth $120,768 over the last 90 days. Corporate insiders own 17.20% 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 deposit.
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