Creative Planning acquired a new position in Southside Bancshares, Inc. (NASDAQ:SBSI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 80,000 shares of the bank’s stock, valued at approximately $2,694,000. Creative Planning owned approximately 0.23% of Southside Bancshares at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Hancock Holding Co. increased its position in Southside Bancshares by 2.5% in the 2nd quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock valued at $8,699,000 after buying an additional 6,074 shares in the last quarter. Walthausen & Co. LLC increased its position in Southside Bancshares by 2.1% in the 2nd quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock valued at $14,756,000 after buying an additional 8,556 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Southside Bancshares by 589.7% in 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 buying an additional 37,936 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Southside Bancshares by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock valued at $4,251,000 after buying an additional 4,254 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Southside Bancshares by 7.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 440,000 shares of the bank’s stock valued at $15,998,000 after buying an additional 30,750 shares in the last quarter. 43.21% of the stock is owned by hedge funds and other institutional investors.
In other Southside Bancshares news, EVP Peter M. Boyd sold 750 shares of Southside Bancshares stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $35.19, for a total transaction of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares in the company, valued at approximately $125,381.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tony K. Morgan purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $35.45 per share, with a total value of $35,450.00. The disclosure for this purchase can be found here. 17.20% of the stock is currently owned by insiders.
A number of brokerages recently commented on SBSI. BidaskClub raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research raised Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 target price for the company in a research report on Saturday, January 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Finally, ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.33.
Southside Bancshares, Inc. (NASDAQ SBSI) opened at $35.33 on Tuesday. The stock has a market capitalization of $1,242.43, a PE ratio of 18.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62. Southside Bancshares, Inc. has a 12 month low of $31.20 and a 12 month high of $37.70.
Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Friday, October 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $44.37 million for the quarter, compared to analyst estimates of $51.00 million. Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. equities research analysts expect that Southside Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.
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Southside Bancshares 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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